Simple Interest Practice Test 1

Question : 14 of 40

Marks: +1, -0

The simple interest on a sum of money is

1/9

th of the principal and the number of years is equal to the rate per cent per annum. The rate per cent per annum is equal to:

Solution:

Let the sum of money = Rs 100
Simple Interest =

1/ 9

th of 100 =

100/ 9

Time = Rate of interest = r

SI={P×R×T}/100

⇒100/9={100×R×R}/100

⇒R^2=100/9

R=10/3=3 1/3%

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