How to solve this problem by breaking "rate of interest" into I/P format?

Aug 2014
507
1
India
P = 49000; R = 57 1/7%; T = 4 yrs; SI of 2nd year = ?

R = 57 1/7% i.e 4/7. i.e Interest/Principle.

Principle; 7 corresponds to 49000.
 
Last edited:

skipjack

Forum Staff
Dec 2006
21,301
2,377
Simple interest would have to be 1/7 (of the original amount) for each year to be 4/7 over 4 years.
By the way, it's "principal", not "principle".