A sum of ₹1,456, when invested for ten years, amounts to ₹2,366 on maturity. Find the rate of simple interest per annum that was to be paid on the sum invested.

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Given:  
Principal (P) = ₹1,456  
Time (T) = 10 years  
Amount (A) = ₹2,366

Simple Interest (SI) = Amount - Principal = 2366 - 1456 = ₹910

Formula for Simple Interest:  
SI = (P × R × T) / 100  
Where R is the rate of interest per annum.

Rearranging to find R:  
R = (SI × 100) / (P × T)

Substitute the values:  
R = (910 × 100) / (1456 × 10) = 91000 / 14560 ≈ 6.25%

Therefore, the rate of simple interest per annum is 6.25%.

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