A certain sum of money amounts to 5/4 of itself in 5 years.find rate percent per annum
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Let the sum (principal) be?$x
Amount=$5÷4x
Simple Interest = 5÷4x - x =x÷4
We know Simple Interest= Principal * Rate * Time ÷100
x÷4=5*x*r÷100
r=x÷4 *100÷5 =5%p.a. ANS
Hope it helps you
Amount=$5÷4x
Simple Interest = 5÷4x - x =x÷4
We know Simple Interest= Principal * Rate * Time ÷100
x÷4=5*x*r÷100
r=x÷4 *100÷5 =5%p.a. ANS
Hope it helps you
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