Question

The simple interest on a sum of money is equal to the principal and number of years is equal to the rate percent per annum. Find the rate percent.

• A. 15%
• B. 20%
• C. 12%
• D. 10%

Answer 1

Answer:

D. 10%

Let the sum of money is equal to x. Then interest is also x I = PNR/100 x = x*N*R/100 100 = N * R, where N and R are equal ie. N=10, and R = 10