Maths-

General

Easy

Question

# The simple interest on a sum of money at the end of 3 years is of the sum itself. What rate percent was charged?

Hint:

### It is given that SI is times the sum itself.

## The correct answer is: 6.25%

### Complete step by step solution:

Let the sum of money = P

It is given that SI is times the sum itself = P.

We calculate simple interest by the formula,

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

Here, we have

On substituting the known values we get,

On further simplifications, we have .

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