2020 · Q16
The simple interest on a certain sum is one-fourth of the sum. If the number of years and the rate of annual interest are numerically equal, then the number of years is
Elementary MathematicsSimple and Compound Interest
- A2.5
- B3
- C3.5
- D5
Explanation
SI = P*n*n/100 = P/4 gives n^2 = 25, so n = 5 years. Hence option (D). Indeed, P*5*5/100 = P/4, confirming that 5 years gives exactly one-fourth of the sum as interest.