The simple interest on a sum of money is 1/16th of the principal, and

1.	The simple interest on a sum of money is 1/16th of the principal, and the number of years is equal to rate per annum. Find the rate percentage.1. 10%2. 15%3. 5%4. 2.5%5. 6%
Answer» Correct Answer - Option 4 : 2.5% Given: I = (1/16) × P R = T Formula used: S.I. = P × R × T/100 Calculation: According to given ⇒ S.I. = P × R × R/100 ⇒ 1/16 = R²/100 ⇒ R² = 100/16 ⇒ R = 10/4 ⇒ R = 2.5% ∴ Required rate percentage is 2.5%

The simple interest on a sum of money is 1/16th of the principal, and the number of years is equal to rate per annum. Find the rate percentage.1. 10%2. 15%3. 5%4. 2.5%5. 6%

Answer» Correct Answer - Option 4 : 2.5%

Given:

I = (1/16) × P

R = T

Formula used:

S.I. = P × R × T/100

Calculation:

According to given

⇒ S.I. = P × R × R/100

⇒ 1/16 = R²/100

⇒ R² = 100/16

⇒ R = 10/4

⇒ R = 2.5%

∴ Required rate percentage is 2.5%

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The simple interest on a sum of money is 1/16th of the principal, and the number of years is equal to rate per annum. Find the rate percentage.1. 10%2. 15%3. 5%4. 2.5%5. 6%

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