At what rate percent per annum will the simple interest on a sum of money be 2/5 of the amount in ten years
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Let the principal be x
Term = 10 years
Interest for 10 years= (2/5)x = 0.4 x
So interest rate for 1 year = 0.04x
Which is 4% of x
So, at 4% per annum simple interest, interest on the sum of money will be 2/5 of principal in 10 years.
Answer = 4% p.a.
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Term = 10 years
Interest for 10 years= (2/5)x = 0.4 x
So interest rate for 1 year = 0.04x
Which is 4% of x
So, at 4% per annum simple interest, interest on the sum of money will be 2/5 of principal in 10 years.
Answer = 4% p.a.
MARK ME AS A BRAINLIEST
¯\_(ツ)_/¯
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