The simple interest on a sum of money is $\frac{1}{{36}}$th of the

1.	The simple interest on a sum of money is \(\frac{1}{{36}}\)th of the principal and the number of years is equal to the rate per cent per annum. The rate per cent annum is ________.1). \(2\frac{1}{3}\%\)2). \(1\frac{2}{3}\%\)3). \(1\frac{1}{3}\%\)4). \(2\frac{2}{3}\%\)
Answer» Now formula for simple interest can be given as ⇒ SI = (P × T × R)/100 Where, SI = Simple Interest P = Principal amount T = Time PERIOD R = Rate of Interest Now as interest is (1/36)^TH of the principal and the rate of interest and time period are equal the formula will become ⇒ P/36 = (P × R × R)/100 ⇒ R² = 100/36 = 10²/6² $(\begin{array}{L} \Rightarrow {\rm{R}} = 10/6 = 5/3 = 1\frac{2}{3}\% \\\therefore {\rm{Rate\;of\;interest}} = 1\frac{2}{3}\%\END{array})$

The simple interest on a sum of money is $\frac{1}{{36}}$th of the principal and the number of years is equal to the rate per cent per annum. The rate per cent annum is ________.1). $2\frac{1}{3}\%$2). $1\frac{2}{3}\%$3). $1\frac{1}{3}\%$4). $2\frac{2}{3}\%$

Answer»

Now formula for simple interest can be given as

⇒ SI = (P × T × R)/100

Where,

SI = Simple Interest

P = Principal amount

T = Time PERIOD

R = Rate of Interest

Now as interest is (1/36)^TH of the principal and the rate of interest and time period are equal the formula will become

⇒ P/36 = (P × R × R)/100

⇒ R² = 100/36 = 10²/6²

$(\begin{array}{L} \Rightarrow {\rm{R}} = 10/6 = 5/3 = 1\frac{2}{3}\% \\\therefore {\rm{Rate\;of\;interest}} = 1\frac{2}{3}\%\END{array})$

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The simple interest on a sum of money is \(\frac{1}{{36}}\)th of the principal and the number of years is equal to the rate per cent per annum. The rate per cent annum is ________.1). \(2\frac{1}{3}\%\)2). \(1\frac{2}{3}\%\)3). \(1\frac{1}{3}\%\)4). \(2\frac{2}{3}\%\)

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