Question

If a sum of money become 4000 in 2 year and 5500 in 4 year 6 month at the same rate of simple interest per annum.Then the rate of simple interest is

Answer 1

Answer: 6%

Step-by-step explanation:

Interest of 2 year = 4000

Interest of 4 year 6 months = 5500

Interest of 2 year 6 months = 1500

Interest of 1 year = 1500 / 2.5

= 6

Rate of simple interest is 6%