At simple interest a sum becomes 6/5 of itself in 5/2 years.What is the rate of interest per annum ?
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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%
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%
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