Question

The simple interest received on a certain amount is equal to the principal. If the time period is equal to the rate of interest. Find the rate of interest per annum?

• A. 20 %
• B. 15 %
• C. 50 %
• D. 10 %

Answer 1

Answer:

D. 10 %

Let interest be Rs x.

Let the sum be x and the rate of simple interest be r%

⇒ Given, Interest = Sum = Rs, x & Time = Rate = r

As we know,

$⇒x=\frac{(x\times{r}\times{r})}{100}$

⇒ r² = 100

⇒ r = 10%