Simple interest on a certain sum at a certain annual rate of interest is 16% of the sum. If the numbers representing rate percent and time in years be equal, then the rate of interest is

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Simple interest on a certain sum at a certain annual rate of interest is 16% of the sum. If the numbers representing rate percent and time in years be equal, then the rate of interest is

A$\text{4%}$

B$\text{6%}$

C$\text{4.5%}$

D$\text{6.5%}$

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Correct answer is: $\text{4%}$ Explanation: Simple interest on a certain sum at a certain annual rate of interest is 16% of the sum. If the numbers representing rate percent and time in years be equal, then the rate of interest is: $\text{Given: Simple interest } (SI) = 16\% \text{ of the sum}$ $SI = \frac{P \times R \times T}{100}$ $\frac{16P}{100} = \frac{P \times R \times R}{100}$ $16 = R^2$ $R = \sqrt{16}$ $R = 4$ upendra ? answered undefined All Comments

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