Question

4/5 of the amount of a certain principal in 5 years is equal to the principal. Find the rate of simple interest

Answer 1

let the principal be p
so amount = 4/5p
and si= 1/5p
1/5p= (4p/5)(r)5/100
r= 5%

Answer 2

Answer:

What is the formula for simple interest?

Simple Interest Formula. The formula for calculating simple interest is: P x r x t ÷ 100. P = Principal. r = Rate of Interest. t = Term of the loan/deposit in years. This means that you are multiplying the principal amount with the rate of interest and the tenure of the loan or deposit.

Step-by-step explanation:

What is the principal amount of interest?

The principal amount is Rs.12 lakh, the interest rate is 7%, and the tenure is 5 years. The interest you will end up paying will be: 12,00,000 x 7 x 5 ÷ 100 = Rs.4,20,000 The interest you will be paying over the period of 5 years will be Rs.4.2 lakh. Therefore, the total repayment you will make will be Rs.16.2 lakh.