Simple interest on a certain sum is 16/25 of the sum. Find the rate percent and time, If both are numerically equal.

Correct Answer: Rate = 8% and Time = 8 years.

Explanation:

Let sum = X. Then S.I = 16x/25

Let rate = R% and Time = R years.

Therefore, (x * R * R)/100 = 16x/25 => R = 40/5 = 8

Therefore, Rate = 8% and Time = 8 years.

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