Question

If the interest of sum of money is 6 yrs in 3/8 of the principal . what is the rate of interest?​

Answer 1

R = 6.25%

Solution,

Let P is the principal. It means interest will be :

I=3/8 P

The formula for the interest is given by :

`I=(PRT)/(100)\\\\(3)/(8)P=(PR* 6)/(100)\\\\(3)/(8)=(6R)/(100)\\\\R=(300)/(8* 6)\\\\=6.25\%`

Hence, the rate of interest is 6.25%.