Problema Solution
Simple interest on a certain sum is 16/25 of the sum. Find the rate per cent and time if both are numerically equal. [Hint: (T = R), P = x, S.I. = 16/25 x]
Answer provided by our tutors
(16/25)x = x*T*R divide both sides by x and knowing that T = R we have:
R^2 = 16/25
R = 4/5
R = 0.8 or 80%
T = 0.8 years
T = 0.8*12 months
T = 9.6 months
The rate is 80% and the time is 9.6 months.