Question

# The simple interest on a certain sum is 16/25 of the sum. Find the rate percent and time if both are numerically equal?

Hint:

### Use the formula of simple interest and then find rate of interest and number of years according to the information provided in the question.

## The correct answer is: 8 years

### Complete step by step solution:

Let the sum of money = P

It is given that the simple interest SI is of the sum, SI = P

Also given that rate percent and time, both are equal.

That is, R = T

We calculate simple interest by the formula,…(i)

where P is Principal amount, T is number of years and R is rate of interest

Here, we have

On substituting the known values in (i), we get

On dividing both the sides by P, we get

Given that rate of interest = time , so R = T = 8

Hence rate percent (R) = 8% and number of years = 8 years

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