The simple interest on certain sum of money after 8 1/3 years is 2/3 of the sum. What is the Rate of interest per annum?
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Answer:
66.67%
Step-by-step explanation:
let the principle be x
S.I = 2/3x
Time=8 1/3= 25/3
Rate=( S.I×100)÷P×T
Rate= (2/3x × 100) ÷ x × 25/3
(200x/3) ÷ (25×/3)
200/3
66.67%
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