Question

The simple interest on a sum of money is 1/9 of the principal and the number of years is equal to the rate percent per annum . Find the rate percent per annum.​

Answer 1

Answer: $3\frac{1}{3}$%

Step-by-step explanation:

Given I = 1/9P

Also, T = R

⇒$\frac{PRT}{100} = I$                    

⇒$\frac{PR^{2} }{100} = I\\\frac{PR^{2} }{100}= \frac{1}{9} P$            .................. Cancelling P on both sides

  ⇒$R^{2} = \frac{100}{9}$          

⇒R =$\sqrt{\frac{100}{9} } = \frac{10}{3}% =$%= $3\frac{1}{3}$%