Question

Find the rate percent annum which gives an interest of ₹500 on a sum of ₹5000 for a period of 5 years.​

Answer 1

so we have,

time= 5 years, simple interest = rs500, principle = rs5000

so we have to find rate percent,

now,

r = si x 100/p x t

then,

rate= 500 x 100/5000 x 5

=2

so the rate percent annum is 2

hence 2%pc.pa

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