The simple interest on a certain sum of money is 3/8 of the sum in 25/4 years. Find the rate percent charged.

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Solution

Let the sum of Money = P
SI = 3/8 P
time = 25/4 years
R = ?

SI = PTR/100
⇒ 3/8 P = P × 25/4 × R / 100
⇒ 3/8 = 25R/400
⇒ R = (3×400)/(8×25)
⇒ R = 6%

Rate is 6%.

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The simple interest on a certain sum of money is 3/8 of the sum in 25/4 years. Find the rate percent charged.

Let the sum of Money = P SI = 3/8 P time = 25/4 years R = ? SI = PTR/100 ⇒ 3/8 P = P × 25/4 × R / 100 ⇒ 3/8 = 25R/400 ⇒ R = (3×400)/(8×25) ⇒ R = 6% Rate is 6%.

Let the sum of Money = P
SI = 3/8 P
time = 25/4 years
R = ?

SI = PTR/100
⇒ 3/8 P = P × 25/4 × R / 100
⇒ 3/8 = 25R/400
⇒ R = (3×400)/(8×25)
⇒ R = 6%

Rate is 6%.