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Simple interest on a certain sum at a certain annual rate of interest is 16/25 of the sum. If the number representing rate per cent and time in years be equal, then the rate of interest is
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- 8%
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11 1 % 2 -
12 1 % 2 -
12 1 % 4
Correct Option: A
Let the rate of interest be r% and principal be P.
According to the question.
= | ||
25 | 100 |
[∵ r = t numerically]
⇒ r2 = | ||
25 |
⇒ r = 40÷ 5 = 8%
Second method to solve this question :
Here, n = | , R = T | |
25 |
R × R = | × 100 | |
25 |
R2 = | |
25 |
⇒ R2 = √ | ||
25 |
R = | |
5 |
R = 8%