Question 65
The simple interest for 9 years on a principal is $$\frac{3}{5}$$ of the principal. Whatis the rate of interest per annum?
Solution
S.I = $$\frac{P\times R \times T}{100}$$
$$\frac{3}{5}P$$ = $$\frac{P\times R\times 9}{100}$$
R = $$6\frac{2}{3}\%$$
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