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The simple interest on a sum of money is 1/16 of the principal and the number of years is equal to the rate per cent per annum. The rate per annum is
The simple interest on a sum of money is
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1 1 % 2 -
2 1 % 2 -
3 1 % 2 -
4 1 % 2
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Correct Option: B
Let the annual rate of interest = r%
Time = r years
Let the principal be p .
∴ Interest = p/16
According to the question,
= | ||
16 | 100 |
[∵ r = t]
⇒ 16r2 = 100
⇒ r2 = | ||
16 |
⇒ r2 = | ||
4 |
∴ r = √25 / 4 = | ||
2 |
r = 2 | % | |
2 |
Second method to solve this question :
Here, n = | , R = T | |
16 |
RT = n × 100
R2 = | |
16 |
∴ R = √100 / 16
⇒ R = | ||
4 |
R = 2 | % | |
2 |