Question

At what rate percent per annum will the simple interest on a sum of money be 2/5 of the amount in 10 years?

Answer 1

Let R=rate of SI=?

P=p

T=10 yr

I=SI in 10 yr

A=amount in 10 yr=p+I

I=2/5A

I=2/5(p+I)

=2/5(p+pRT/100)=I

=2p/5(1+10R/100)=pR10/100

»(1+R/10)=5R/20

»1=5R/20-R/10

»R=20/3=(6+2/3)%

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Step-by-step explanation: