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Question

The simple interest on a sum money is 4/9 of the principal and the number of years is equal to the rate percent per annum. The rate per annum is :

A
5%
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B
623%
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C
6%
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D
715%
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Solution

The correct option is C 623%
Let the principal be P.
Rate of interest be R%
According to the question, Time=R
Simple interest =4P9.
SI=(PTR)100
4P9=(PTR)100
4P9=(P×R×R)100
4P9=(P×R2)100
49=R2100
R2=100×49
R=10×23=203
Therefore, rate of interest is 203% or 623%.


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