The simple interest on a sum of money is 4/9 of the principal. What will be the annual rate of interest and time (in years), if both of these are numerically equal?
1
6% and 6 years
2
6.8% and 6.8 years
3
\(\rm 6\frac{1}{2}\%\ and \ 6\frac{1}{2}\ yrs.\)
4
\(\rm 6\frac{2}{3}\%\ and \ 6\frac{2}{3}\ yrs.\)