Question

At simple interest a sum becomes 6/5 of itself in 5/2 years. The rate of interest per annum is

Answer 1

Let Principal be P
and the Rate of interest be R
Time = 2 1/2 years or 5/2 years

We Know,
Amount = P(1 + TR/100)

⇒ 6/5 P = P(1 + 5R/200)

⇒ 6/5  = (1 + R/40)

⇒ 200 + 5R = 240

⇒ R = 8

Hence, the rate of interest is 8%

Answer 2

Step-by-step explanation:

answer will be 8%

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