Question

If the interest of sum of money is 6 yrs in 3/8 of the principal . what is the rate of interest?​

Answer 1

Answer :

R = 6.25%

Solution,

Let P is the principal. It means interest will be :

I=3/8 P

The formula for the interest is given by :

$I=\dfrac{PRT}{100}\\\\\dfrac{3}{8}P=\dfrac{PR\times 6}{100}\\\\\dfrac{3}{8}=\dfrac{6R}{100}\\\\R=\dfrac{300}{8\times 6}\\\\=6.25\%$

Hence, the rate of interest is 6.25%.