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A certain sum of money amounts to 7/4 of itself in 6 years. What is the percent rate per annum?

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A certain sum of money amounts to 7/4 of itself in 6 years. What is the percent rate per annum?
posted Jul 20, 2020 by Dilbagh

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2 Answers

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answer=12.5%

answer Jul 21, 2020 by Gangadharan Kv
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Assuming simple interest is applied
P => principle
A => Amount
A = (7/4)P
Simple Interest = (3/4)P
Rate of simple interest = (3/4)P/(P*6)*100 = (1/8)*100 = 12.5%.

answer Jul 21, 2020 by Tejas Naik
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