A sum of money becomes 54 54 of it in 2 years at a certain rate of simple interest. Find the rate per annum.15.5%12.5%7.5%8.5%

Question

A sum of money becomes 54 54 of it in 2 years at a certain rate of simple interest. Find the rate per annum.15.5%12.5%7.5%8.5%
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Solution 1

The problem states that a sum of money becomes 54/100 of it in 2 years at a certain rate of simple interest. We can use the formula for simple interest to solve this problem.

The formula for simple interest is I = PRT/100, where: I = Interest P = Principal amount (initial money) R = Rate of interes Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study prob

Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solv

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