Question

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

Answer 1

is the answer . for this question

Answer 2

Amount=8,Principal=5
Rate=
$\frac{si \times 100}{p \times t}$
here T means time
SI means simple interest.
SI = A - P
SI= 8 - 5
SI = 3
$\frac{3 \times 100}{5 \times 5}$
$\frac{300}{25}$
$= 12\%$
therefore,the rate of interest is 12%.