Question

A sum of money becomes
3/5 times in
5 years
at a certain rate of simple interest. Find the
rate of interest​

Answer 1

Answer:

let x be rhe money that is increasing in the next 5 years

after 5 years it becomes 3x/5 +x

therefore 8x / 5

i.e 1.6x

i.e interest rate is 16 %p.a