Question

The simple interest on a certain sum of money is 3/8 of the sum in 6 1/4 years.Find the rate percent changed

Answer 1

lets take amount is  X
3/8  of sum is  3X/8
SIMPLE INTEREST = PRINCIPLE AMOUNT*INTEREST*NO OF YEARS/100
                       I==== P*N*R
                  so interest for 6 1/4 years =  X*(6+(1/4=0.25))*i/100
                                                            =   X*i*6.25/100
if both are equal
                  
3X/8  = X*i*6.25/100
 
i= 3/8 *100/6.25 
  = 6%
therefore rate of interest is 6%