Simple interest on a certain sum at a certain rate is 9/16 of the sum. If the number representing rate percent and time in years be equal. Then the time is?
Correct Answer: 71/2years
Explanation:
Let principle = P, then SI = (9/16) x P.
Let rate = R% per annum and time = R years
Then, 9/16 P = P x R x R / 100
⇒ R2 = 900/16
∴ R = 30/4 = 71/2 years
