Flash Education

Question

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 ___

Simple Interest

December 27, 2023

Answer

Let the principal = ₹ 8x and the amount = ₹ 9x.

∴ Interest = ₹ 9x – ₹ 8x

Rate = $\frac{\text { Interest } × 100}{\text { Principal } × \text { Time }}$

= $\frac{x × 100}{8 × 1}=\frac{25}{2}$

∴ Rate = $12 \frac{1}{2}$ %

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