1.

Simple interest on a sum of money at the end of 5 years is 4/5 of the sum itself. find the rate percent per annum.​

Answer»

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GIVEN:-

Simple INTEREST on a sum of money at the end of 5 years is 4/5 of the sum itself.

Need to find out:-

The rate percent per annum.

Let us take sum ( PRINCIPAL ) as P.

Here,

Time = 5 years

Simple Interest = 4/5 P

Therefore:-

P × R × T/100 = 4/5 P

=> P × R × 5/100 = 4/5 P

=> Rate of interest = 4/5 × 100/5

=> Rate of interest = 16

Hence:-

Rate of interest = 16% per annum.


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