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T h e space i n t e r e s t space o f space a space s u m space o f space m o n e y space a t space t h e space e n d space o f space 4 1 half y e a r s space i s space 3 over 5 space o f space t h e space s u m.
F i n d space t h e space r a t e space a t space w h i c h space i t space w a s space g i v e n.

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Asked by Topperlearning User 23rd September 2016, 11:10 AM
Answered by Expert

L e t space t h e space s u m space b e space R s space 100
t h e n space S I space equals 3 over 5 o f space t h e space s u m space equals space 3 over 5 cross times 100 equals space R s.60
T i m e space left parenthesis T right parenthesis equals space 4 1 half y e a r s space equals space 9 over 2 y e a r s
T h e r e f o r e space R a t e space equals fraction numerator S I cross times 100 over denominator P cross times T end fraction equals space fraction numerator 60 cross times 100 cross times 2 over denominator 100 cross times 9 end fraction percent sign equals 40 over 3 percent sign equals 13 1 third percent sign

Answered by Expert 23rd September 2016, 1:10 PM
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