The simple interest on a sum of money is 4/9 of the principal and the number of years is equal to the rate percent. Find the rate and the time?
Options:
(A) 6 2/3%
(B) 6 2/9%
(C) 6 3/3%
(D) 9 2/3%
(E) 7 2/3% Think first, then make a decision. Some random thoughts:
4/9 P = (P*R*R)/100
R = 20/3 = 6 2/3% So the answer is (A).