Question

Alok borrows some money from the bank and the SI on the sum is ${\frac{1}{9}}^{th}$ the principal amount and the number of years is the rate of interest. Find r?

• A. 5.55%
• B. 2.33%
• C. 3.33%
• D. none of these

Answer 1

The correct option is C 3.33%

Answer = Option c

Principal = P

Time = x

Rate = x

$SI=\frac{P}{9}$

$SI=\frac{PRT}{100}\frac{P}{9}=\frac{P{x}^2}{100}$

$x^2=\frac{100}{9}\Rightarrow x=\frac{10}{3}=3.33\%$