Question

Mannan Miyan observed, after 6 years of taking a loan of some money, that the interest to be paid had become 3/8 th of its principal. Let us determine the rate of simple interest in per cent per annum.

December 27, 2023

Answer

Let the principal = ₹ x

Simple Interest (I) = ₹ $\frac{3 x}{8} \\$

Time (t) = 6 years

Rate (r) = ?

Rate = $\frac{\text { Interest } \times 100}{\text { Principal } \times \text { Time }}=\frac{\frac{3}{8} \times 100}{x \times 6} \\$

= $\frac{3}{8} \times \frac{100}{6}=\frac{25}{4}=6 \frac{1}{4} \\$

∴ Rate =6 $\frac{1}{4} \\$ %

💡 Some Related Questions

Let us write the number of years for which a principal becomes twice of its amount having the rate of simple interest of 6 $\frac{1}{4} %$ per annum

The ratio of the principal and the amount (principal along with interest) in 1 yr is 8 : 9; the rate of simple interest per annum is ___

The amount of ₹ 2p in t years at the rate of simple interest of $\frac{r}{2}\%$ per annum is Rs .(2p + _________).

FIB : A man who gives a loan is called _________

State True or Fale : If the principal and the rate of simple interest in percent per annum be constants, then the total interest and the time are in inverse relation

State True or False : A man who takes a loan is called a debtor.

The total interest of a principal in n years at the rate of simple interest of r% per annum is $\frac{p n r}{25}$ , the principal will be (a) ₹ 2p (b) ₹ 4p (c) ₹ $\frac{p}{2}$ (d) ₹ $\frac{p}{4}$

The simple interest at x % for x years will be Rs x for a principal amount of

If a principal becomes twice of its amount in 10 years, the rate of simple interest per annum is (a) 5% (b) 10% (c) 15% (d) 20%

A principal becomes twice of its amount in 20 yrs at a certain rate of simple interest. At the same rate of simple interest, that principal becomes thrice of its amount in (a) 30 years (b) 35 years (c) 40 years (d) 45 years