A sum of money becomes \(\frac{7}{6}\) of itself in 3 years at a certain rate of simple interest. What is the rate per annum?
A sum of money becomes \(\frac{7}{6}\) of itself in 3 years at a certain rate of simple interest. What is the rate per annum?
एक धनराशि साधारण ब्याज की एक निश्चित दर पर 3 वर्षों में स्वयं की \(\frac{7}{6}\) हो जाती हैं। प्रति वर्ष दर हैं।
Detailed Solution & Logic
Correct Answer:
\(5\frac{5}{9}\) %
Given: Amount becomes $\frac{7}{6}$ of principal in 3 years
So, interest earned =
$\frac{7}{6}P - P = \frac{1}{6}P$
Using simple interest formula:
$SI = \frac{P \times R \times T}{100}$
$\frac{P \times R \times 3}{100} = \frac{1}{6}P$
Cancel $P$:
$\frac{3R}{100} = \frac{1}{6}$
$R = \frac{100}{18} = \frac{50}{9} = 5\frac{5}{9}%$
Final Answer: $5\frac{5}{9}%$
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