Arithmetichard · Past Paper
The simple interest on a sum of money is 1/9 of the principal and the number of years is equal to the rate percent per annum. The rate percent is:
A3%
B3.33%
C4%
D5%
✓ Correct Answer: B — 3.33%
I = P/9, T = R. P/9 = (P*R^2)/100 => R^2 = 100/9 => R = 10/3 = 3.33%.
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