Question

a some of money become 8/5 of itself in 5 years at a certain rate of simple interest. find the rate of interest​

Answer 1

Answer:

rate= 12%p.a.

Step-by-step explanation:

Let principal be x and amount be 8/5 x

Time= 5 years

S.I.= Amount - Principal

=8/5 x-x= 3/5x

Rate= 100*S.I./P*T

=100*3x/x*5*5=. 12%p.a.