Question

Ethel lends $250 to Sam at the rate of___ pcpa
Simlple interest then she will receive a sum of $300 after 5 years.​

Answer 1

Answer:

Rate of interest is 24% per annum

Step-by-step explanation:

Simple interest (SI) = ( Principal amount * no of years * rate of interest ) / 100

Simple interest SI = $300

Principal Amount P = $250

No of years n = 5 years

Rate of interest r = SI * 100 / ( Principal amount * no of years )

= 300 * 100 / 250 * 5

= 24 % per annum

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Answer 2

Answer:

4%

Step-by-step explanation:

SI=PNR/100

P=250$

N=5

R=?

After 5 years interest received is 300$

Before 5 years principal is 250, So 300-250=50$

50=(250)(5)(R)/100

5000=(1250)R

R=5000/1250

R=4%