Question

A sum of money becomes 5/8 of itself in 5 years at a certain rate of simple interest.Find the rate of interest?​

Answer 1

Answer:

So, the rate of interest is equal to 12 percent per annum.

Step-by-step explanation:

Let the principle be 'x'

Time is given as 5 years.

So, amount becomes 8x/5

Now ,

We know that

Si = amount - p

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

Now we also know that

SI = p x r x t / 100

So as per given values.

x x r x 5 / 100 = 3x/5

5x multiplied by r = 3x multiplied by 100 / 5 = 60x

r = 60x / 5x = 12%

Answer 2

hope it will helps you.............