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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. - Mathematics

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Sum

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.

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Solution

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%

Concept: Concept of Principal, Interest, Amount, and Simple Interest
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APPEARS IN

Selina Concise Mathematics Class 8 ICSE
Chapter 9 Interest
Exercise 9 (A) | Q 8 | Page 106
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