The simple interest on a certain sum is one quarter of the sum .Find the rate per cent and time if both are numerically equal
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Answer:
Let the principal be P.
Rate of interest be R%
According to the question, Time=R
Simple interest =
9
4P
.
SI=
100
(PTR)
⇒
9
4P
=
100
(PTR)
⇒
9
4P
=
100
(P×R×R)
⇒
9
4P
=
100
(P×R
2
)
⇒
9
4
=
100
R
2
⇒R
2
=100×
9
4
⇒R=10×
3
2
=
3
20
Therefore, rate of interest is
3
20
% or 6
3
2
%.
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