A sum of money becomes 8/5 of itself in 5 years at a certain rate of simple interest. Find the rate of interest?
Answers
Answered by
3
Answer:
Rate = 12%
Step-by-step explanation:
Principal = x
Amount = 8/5 x
Time = 5 years
Amount = Principal + simple Interest => 8/5 x = x+SI =>8/5x - x => SI = 3/5 x
SI = P×R×T / 100 => 3/5 x = X × R × S / 100
=> 3/5 X × 20 = R x
=> 12 x = R x
=> R = 12
Therefore Rate = 12% p.a.
Answered by
10
Answer:
Answer:
Rate = 12%
Step-by-step explanation:
Principal = x
Amount = 8/5 x
Time = 5 years
Amount = Principal + simple Interest => 8/5 x = x+SI =>8/5x - x => SI = 3/5 x
SI = P×R×T / 100 => 3/5 x = X × R × S / 100
=> 3/5 X × 20 = R x
=> 12 x = R x
=> R = 12
Therefore Rate = 12% p.a.
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