Question 145

Simple interest on a certain sum is 16/25 of the sum. The rate percent if the rate per cent and time (in years) are equal, is

Solution

it is given that Simple interest on a certain sum is 16/25 of the sum and rate of interest = time period

let the principal amount be P and rate of interest be R and time period be T

here R = T

$$\frac{16}{25}$$P = $$\frac{P \times R \times T}{100}$$

as R = T

R = 8 %

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