Question

The simple interest on a sum of money is 9/16 of the principal.Find the rate percent and time if both are numerically equal

Answer 1

LET P = P, SI = 9P/16, R = T = X ( LET)

SI = PRT/100

9P/16 = PXX/100

9/16 = XX/100

XX = 900/16

XX = 225/4

X = 15/2 = 7.5

X = R = 7.5%

X = T = 7.5 YEARS.

Answer 2

Step-by-step explanation:

Very nice the top answer is totally right but the only thing is that time we never right in points you know so answer should be written as

R = 7.5 %

T = 15/2 years or 7 1/2 years (seven one by two years)