Question

a sum of money become 8/5of it sell in 5year at a certain rate of interest find the rate of interest​

Answer 1

Answer:

Rate = 12%

Step-by-step explanation:

Let the Principal = P

Amount = 8P/5

$interest \: = \frac{8p}{5} - p = \frac{3p}{5}$

$interest \: = \frac{p \times t \times r}{100} = \frac{p \times 5 \times r}{100} = \frac{3p}{5}$

$rate = \frac{3p \times 100}{25p}$

Rate = 12%