The interest is equal to the sum invested for 4years, find the rate of simple interest

1 answer

To find the rate of simple interest when the interest is equal to the sum invested over a period of 4 years, we can use the formula for simple interest:

\[ I = P \times r \times t \]

where:

  • \( I \) is the interest,
  • \( P \) is the principal amount (the sum invested),
  • \( r \) is the rate of interest (in decimal),
  • \( t \) is the time in years.

Given that the interest \( I \) is equal to the principal \( P \) after 4 years, we can set up the following equation:

\[ P = P \times r \times 4 \]

We can divide both sides by \( P \) (assuming \( P \neq 0 \)):

\[ 1 = r \times 4 \]

Now we solve for \( r \):

\[ r = \frac{1}{4} = 0.25 \]

To express \( r \) as a percentage, we multiply by 100:

\[ r = 0.25 \times 100 = 25% \]

Thus, the rate of simple interest is 25%.