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The simple interest on a sum of money is 16/25 of the principal. The number of years is equal to the rate of interest per annum. What is the rate (in percentage) of interest per annum?1). 42). 163). 84). 12 |
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Answer» simple interest on a SUM of money is 16/25 of the principal let SI = 16 and Principal = 25 ⇒ r = t (given) ⇒ SI = (P × r × t)/100 ⇒ 16 = (25 × r × r)/100 ∴ r = 4/5 × 10 = 8% |
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