Problem:

A sum of 46875 was lent out at simple interest and at the end of 1 year 8 months the total amount was 50000. Find the rate of interest percent per annum?

Solution:

To find the rate of interest percent per annum, we need to use the formula for simple interest:

Simple Interest = (Principal * Rate * Time) / 100

Where, Principal = 46875
Time = 1 year 8 months = 20/12 years (as 1 year = 12 months)
Simple Interest = 50000 - 46875 = 3125

Now, substituting the values in the above formula, we get:

3125 = (46875 * Rate * 20/12) / 100

Simplifying this equation, we get:

Rate = (3125 * 100 * 12) / (46875 * 20)

Rate = 10

So, the rate of interest percent per annum is 10%.

Explanation:

The given problem is a simple interest problem which involves finding the rate of interest percent per annum. Simple interest is the amount of interest earned on a principal amount for a certain period of time. The formula for simple interest is given by:

Simple Interest = (Principal * Rate * Time) / 100

Where, Principal is the original amount of money borrowed or invested, Rate is the rate of interest per annum and Time is the duration for which the money is borrowed or invested.

In this problem, we are given the principal amount, the total amount at the end of the given period of time and the time period. Using the formula for simple interest, we can find the rate of interest percent per annum.

3.75%