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The simple interest of a sum of money is 1/144 of the principal and the number of years is equal to the rate per cent per annum. What will be the rate per cent per annum ?
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- 3/5%
- 5/6%
- 7/6%
- 1/6%
- None of these
Correct Option: B
Let the principal be P.
Then, according to the question,
(P x T x T) / 100 = P/144 [∵ time and rate are equal]
⇒ T2 = 100/144
∴ T = 10/12 = 5/6 %
