Question

At what rate percent per annum will Rs .800 amount to Rs.1000 in 5 years?

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Answer 1

Answer:

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Step-by-step explanation:

We have,

Principal (p) = Rs 800

Amount (A) = Rs 1000

Time (t) = 5 years

Now,

Simple Interest (S.I) = A - p

= Rs (1000 - 800) = Rs 200

S.I = (p×r×t) /100

=> 200 = (800×r×5)/100

=> 200 × 100 = 4000 r

=> r = 20000/4000 = 5

Hence,

Rate = 5 %