On a certain sum the simple interest for $$12\frac{1}{2}$$ year is $$\frac{3}{4}$$ of the sum. Then the rate of interest is = ?

Solution (By Examveda Team)

$$\eqalign{ & {\text{Let sum = }}x \cr & {\text{Interest = }}\frac{3}{4}x{\text{ }} \cr & {\text{Interest = }}\frac{{{\text{PTR }}}}{{100}} \cr & \Rightarrow \frac{3}{4}x = \frac{{x \times {\text{R}} \times 12.5}}{{100}} \cr & {\text{R = 6}}\% \cr} $$