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Question 71
Simple interest on a certain sum is $$\frac{16}{25}$$ of the total sum. If rate percent and time are same, what will be the rate of interest?
Solution
Let total sum = Rs. $$25x$$
=> Simple interest = Rs. $$16x$$
Also, let rate of interest = time = $$r$$
Thus, simple interest = $$\frac{P\times R\times T}{100}$$
=> $$\frac{25x\times r\times r}{100}=16x$$
=> $$\frac{r^2}{4}=16$$
=> $$r^2=16\times4=64$$
=> $$r=\sqrt{64}=8\%$$
=> Ans - (D)
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