Question

a sum of money becomes 8/5of itself in 5 years at a certain rate of simple interest.find the rate of interest.



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Answer 1

Answer:

sum of money becomes 8 by 5 of itself in 5 years at a certain rate of simple interest find the rate of interest. SI means simple interest. therefore,the rate of interest is 12%.

Step-by-step explanation:

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Answer 2

Step-by-step explanation:

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• A sum of money becomes 8/5 of itself in 5 years at a certain rate of interest. What is the rate of the interest?

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Let the sum of money be P(which is the principal value) and rate of interest be R.

According to the question,

Amount (principal +simple interest) = 8P/5

Time (T) = 5 years

Simple interest (SI) = PRT/100

SI = 5PR/100

Amount = P +SI

8P/5 = P+(5PR/100)

8P/5 = P(100+5R)/100

160 = 100 +5R

5R =60

R = 12

Therefore, rate of interest = 12% p.a.

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