plz explain
The S.I on a sum of money is 4/9 of the
principal and the no. of years is equal to the
rate of interest per annum. Find the rate of
interest per annum
a) 5% b) 6% c) 20/3% d) 22/7%
3 Replies
Sumit Grover
(Chartered Accountant )
(3652 Points)
Replied 07 June 2013
C) 20/3%..
Assuming,
Principal--p
Interest--i
Time(yrs)--i(since time=rate of interest)
And simple interest=4/9p
So, the equation will be as follows::
pX(i/100)Xi=4/9p
And after solving dis equation,
i comes to 20/3 percent
Vandana J Doshi
(Practising Company Secretary)
(12562 Points)
Replied 07 June 2013
let principal be P....so S.I=4/9P
time=rate of int=x
Since
S.I=(P*T*R)/100
4/9P=(P*x*x)/100
(4*100*P)/9*P=x*x
400/9=x*x
x=square root of 400/9
x=20/3%
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