Question

The simple interest on a sum of money is1/4th of the principal and the number of year is equalto equal to rate percent per annum find rate per cent

Answer 1

Answer:

Sol: Let the principal be P. Rate of interest be R% According to the question, Time = R Simple interest = P/9. SI = (P × T × R) / 100 ⇒ P/9= (P × R × R) / 100 ⇒ P/9= (P × R2) / 100 ⇒ 1/9= (R2) / 100 ⇒ R2 = 100 / 9 ⇒ R = 10/3 Therefore, rate of interest is 10/3 % or 3 1/3 %.