Question

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

please solve this question​

Answer 1

Answer:

R = 12%

Step-by-step explanation:

Let the initial sum be 100

Then, sum became 8/5 of 100=8/5*100=160

Interest earned = 160–100=60

∴ Interest=PNR/100

⇒ 60 = 100*5*R/100

⇒ R = 12%

Hope it helps!

Answer 2

Answer:

Given:

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

Find:

• Find the rate of interest.

• Let us assume 'x' as the common variable used in this question.

Using formula:

☆ Simple interest (SI) = Principal (P) × Rate (R) × Time (T)/100

Calculations:

= x × Rate × 5/100

= 3x/5

= 5x × Rate = 3x × 100/5

= 60x

= Rate = 60x/5x

= 12

Therefore, 12 ℅ is the rate of interest.