Question 51

A sum becomes 10/9 times itself in 1 yr. Find the rate of simple interest.

Solution

Let the sum be Rs. x,

Amount = Rs. 10x/9 , T= 1 year

S I = (Amount - sum) = Rs. (10x/9-x) = Rs. (x/9) R = ((100×SI)/(P×T))=(100×x/9×1/x)%per annum = (100/9)% per annum = 11 1/9% per annum

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