Question

A sum of money is lent at 5% simple interest per annum for a period of T years. If the interestearned is half of the money lent, then find the value of T. Substitute your answer in the simpleinterest formula and retrace your steps to validate your answer.

Answer 1

Answer:

Consider the sum P=Rs100

We know that (S.I)=1/4×100=Rs.25

T=5years

Here, Rate R=(S.I×100)/(P×T)

Substituting the values =(25×100)/(100×5)

=5

So we get R=5%