2 At what rate of interest per annum will the simple interest 2/5
principal amount in 5 years?
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Answer:
8% per annum
Step-by-step explanation:
Let the Principal be P and Rate of interest be R.
Time (T) = 5 years
Simple Interest (SI) = 2/5 P
SI = PRT/100
=> 2/5 P = P × R × 5/100
=> R = 8% per annum
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