Simple interest on a certain sum is 16/25 of the sum. The rate per cent if the rate per cent and time (in years) are equal, is interest?
- 6%
- 8%
- 10%
- 12%
Explanation
Let sum = X. Then S.I = 16x/25
Let rate = R% and Time = R years.
Therefore, (x * R * R)/100 = 16x/25 => R = 40/5 = 8
Therefore, Rate = 8% and Time = 8 years.
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