Question

Ex. 7. If the simple interest on a certain sum of money for 2 years be one-fifth of the sum, then find the rate of interest per anum​

Answer 1

Answer:

The rate of interest per annum is 10%.

Step-by-step explanation:

pLet the sum i.e., principal be x

then, simple interest (I) = x/5

Given, Time = 2 years

Hence, Rate = I × 100 / P × T

= x × 100 / x × 2 × 5

= 100x / 10x = 10 (ans).

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