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Interest

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Simple interest on a certain sum is 16/25 of the sum. If the rate of interest and time are equal, then their value is _________
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Let P be the sum

Given: SI=(16/25) P

           R=T

SI=PTR/100

(16/25)P = PT2/100       since R=T        

By solving This T2 =64 so T =8

Therefore Time is 8 years and rate of interest is 8%

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