UPSC Exam > UPSC Questions > The simple interest of money is 3/16 of it. I...
Start Learning for Free
The simple interest of money is 3/16 of it. If the number of years is 3 times of number
representing the rate percent, find the rate of interest.?
representing the rate percent, find the rate of interest.?
Verified Answer
The simple interest of money is 3/16 of it. If the number of years is ...
The rate of interest is 15%.
The simple interest on an amount of money is equal to the principal (the original amount of money) multiplied by the interest rate (expressed as a percentage) and the time period (expressed in years). If the simple interest is 3/16 of the principal, then the formula for calculating the interest rate is given by:
Interest rate = (Simple interest / Principal) * (100 / Time period)
Substituting the given values, we get:
Interest rate = (3/16) * (100 / 3)
= 15%
Therefore, the rate of interest is 15%.
This question is part of UPSC exam. View all UPSC courses
Most Upvoted Answer
The simple interest of money is 3/16 of it. If the number of years is ...
Problem: The simple interest of money is 3/16 of it. If the number of years is 3 times of number representing the rate percent, find the rate of interest.
Solution:
Let's assume the Principal as P.
Given, Simple Interest (SI) = 3/16 P
Let the rate of interest be R% and the time be T years.
We know that, SI = (P * R * T) / 100
Therefore, (P * R * T) / 100 = 3/16 P
Simplifying the equation, we get:
R * T = 3/16 * 100
R * T = 18.75
Also, T = 3R (Given)
Substituting T in the above equation, we get:
R * 3R = 18.75
3R^2 = 18.75
R^2 = 6.25
R = 2.5 or -2.5 (ignoring the negative value)
Therefore, the rate of interest is 2.5%.
Answer: The rate of interest is 2.5%.
Solution:
Let's assume the Principal as P.
Given, Simple Interest (SI) = 3/16 P
Let the rate of interest be R% and the time be T years.
We know that, SI = (P * R * T) / 100
Therefore, (P * R * T) / 100 = 3/16 P
Simplifying the equation, we get:
R * T = 3/16 * 100
R * T = 18.75
Also, T = 3R (Given)
Substituting T in the above equation, we get:
R * 3R = 18.75
3R^2 = 18.75
R^2 = 6.25
R = 2.5 or -2.5 (ignoring the negative value)
Therefore, the rate of interest is 2.5%.
Answer: The rate of interest is 2.5%.
Attention UPSC Students!
To make sure you are not studying endlessly, EduRev has designed UPSC study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in UPSC.
|
|
Explore Courses for UPSC exam
|
|
Similar UPSC Doubts
Top Courses for UPSCView all
The simple interest of money is 3/16 of it. If the number of years is 3 times of numberrepresenting the rate percent, find the rate of interest.?
Question Description
The simple interest of money is 3/16 of it. If the number of years is 3 times of numberrepresenting the rate percent, find the rate of interest.? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about The simple interest of money is 3/16 of it. If the number of years is 3 times of numberrepresenting the rate percent, find the rate of interest.? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The simple interest of money is 3/16 of it. If the number of years is 3 times of numberrepresenting the rate percent, find the rate of interest.?.
The simple interest of money is 3/16 of it. If the number of years is 3 times of numberrepresenting the rate percent, find the rate of interest.? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about The simple interest of money is 3/16 of it. If the number of years is 3 times of numberrepresenting the rate percent, find the rate of interest.? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The simple interest of money is 3/16 of it. If the number of years is 3 times of numberrepresenting the rate percent, find the rate of interest.?.
Solutions for The simple interest of money is 3/16 of it. If the number of years is 3 times of numberrepresenting the rate percent, find the rate of interest.? in English & in Hindi are available as part of our courses for UPSC.
Download more important topics, notes, lectures and mock test series for UPSC Exam by signing up for free.
Here you can find the meaning of The simple interest of money is 3/16 of it. If the number of years is 3 times of numberrepresenting the rate percent, find the rate of interest.? defined & explained in the simplest way possible. Besides giving the explanation of
The simple interest of money is 3/16 of it. If the number of years is 3 times of numberrepresenting the rate percent, find the rate of interest.?, a detailed solution for The simple interest of money is 3/16 of it. If the number of years is 3 times of numberrepresenting the rate percent, find the rate of interest.? has been provided alongside types of The simple interest of money is 3/16 of it. If the number of years is 3 times of numberrepresenting the rate percent, find the rate of interest.? theory, EduRev gives you an
ample number of questions to practice The simple interest of money is 3/16 of it. If the number of years is 3 times of numberrepresenting the rate percent, find the rate of interest.? tests, examples and also practice UPSC tests.
|
|
Explore Courses for UPSC exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup