Question
Download Solution PDFSimple interest accrued on a certain sum is 16/25 of the principal sum. If the numerical value of the rate of annual interest (%) and time (years) are equal, what is annual rate of interest?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
SI = 16P/25
R = T
Concept used:
SI = PRT/100
SI = Simple Interest
R = Rate
P = Principle amount
T = Time period in year
Solution:
SI = PRT/100
Last updated on Jun 12, 2025
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