If the interest of `292Rs` in `1` day be `5` paise, then find the rate of simple interest in percent per annum.

Explanation

Here, principal `(P)=Rs292`
Rate of interest `=x%` (let)
Period `(t)=1` day `=(1)/(365)` year
Simple interest `=5` paise `=Rs(5)/(100)=Rs(1)/(20)`
`:.(292xx x xx1)/(100xx365)=(1)/(20)impliesx=(100xx365)/(20xx292)=(25)/(4)=6(1)/(4)`.
`:.` The required rate of interest `=6(1)/(4)%` per annum.