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Practice mode Simple Interest

The simple interest on a sum for 6 years is 3/8 of the sum. What is the rate of interest per annum?

Correct answer D. 6.25%

Explanation

R × 6 / 100 = 3/8, so R = 300 / 48 = 6.25% per annum. Check: 6.25 × 6 = 37.5%, which is 3/8 of the sum.

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