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Question 143
The simple interest on a sum of money is $$\frac{1}{9}$$ of the principal and the number of years is equal to rate per cent annum. The rate per annum is
Solution
Simple interest = $$P \times \frac{rate (r)}{100} \times time(t)$$ (Where P is principal amount)
As interest = principal amount and rate(r) = time (t)
Hence after putting values,$$t^2 = \frac{100}{9}$$
                  or  $$t = \frac{10}{3}$$ so $$r = t = \frac{10}{3}$$
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