Question

The simple interest on a sum of money is 4/9 of the principal .Find the rate percent and time, if both are numerically equal.

Answer 1

Let sum = Rs. x. Then, *.I. = Rs. 4x/9

Let rate = R% and time = R years.

Then, (xRR)/100=4x/9 or R2 =400/9 or R = 20/3 = 6 2/3.

Rate = 6 2/3 % and Time = 6 2/3 years = 6 years 8 months.