A sum of money becomes 54 54 of it in 2 years at a certain rate of simple interest. Find the rate per annum.15.5%12.5%7.5%8.5%

The problem states that a sum of money becomes 54/100 of it in 2 years at a certain rate of simple interest. We can use the formula for simple interest to solve this problem.

The formula for simple interest is I = PRT/100, where: I = Interest P = Principal amount (initial money) R = Rate of interest T = Time

In this case, the interest (I) is the difference between the final amount and the initial amount. According to the problem, the final amount is 54/100 of the initial amount. So, the interest is 54/100P - P.

We can plug these values into the formula and solve for R (the rate of interest):

54/100P - P = PR2/100 -46/100P = PR2/100 -46/2 = R R = -23

However, the rate of interest cannot be negative. This means there might be a mistake in the problem statement. The final amount should be more than the initial amount if there is a positive interest rate. Please check the problem statement again.