Question

The $SI$ on a sum of money is $\frac{1}{9}$ th of the principle and the number of years is equal to the rate percent per annum. Find the rate percent.

• A. $2\frac{1}{3}\%$
• B. $3\frac{1}{3}\%$
• C. $4\%$
• D. None

Answer 1

The correct option is B $3\frac{1}{3}\%$

$I=\frac{PTR}{100}$

$\frac{1P}{9}=\frac{P\times R\times R}{100}$

$R^2=\frac{100}{9}$

$R=\frac{10}{3}=3\frac{1}{3}\%$