Question

What sum is lent to a man for only the month of November 2014 at 3% simple annual interest, so that
the money-lender gets * 1 per day as interest?
rellaneous Problems​

Answer 1

Let the original rate be R%. Then, new rate = (2R)%.

Note:

Here, original rate is for 1 year(s); the new rate is for only 4 months i.e. year(s).

725 x R x 1 + 362.50 x 2R x 1 = 33.50

100 100 x 3

(2175 + 725) R = 33.50 x 100 x 3

(2175 + 725) R = 10050

(2900)R = 10050

R = 10050 = 3.46

2900

Original rate = 3.46%