Question

The simple interest on a certain sum of money is `3/8` of the sum in `6 1/4` years. Find the rate percent charged.

Answer 1

Let P = Rs.8

S.I. = Rs.`3/8xx8`

= Rs.3

T =`6 1/4` years = `25/4` years

We know that :

R =`(100xx"I")/("P"xx"T")`

`=(100xx3)/(8xx25/4)=(100xx3)/8xx4/25=2xx3`

= 6%

Answer 2

Given:

• Simple interest is `3/8`​ of the sum,
• Time (T) = `6 1/4` = 6.25 years,
• Formula for simple interest:
  `SI = (P.R.T)/100`

Step 1: Represent simple interest in terms of the principal

`SI = 3/8.P`

Substitute SI into the formula:

`3/8.P = (P.R.T)/100`

Step 2: Cancel P (since P≠0) and solve for R:

`3/8 = (Rxx6.25)/100`

Rearrange

`R = (3/8 xx100)/6.25`

Step 3: Simplify:

`R = (3xx100)/(8xx6.25)=300/50=6`

= 6