Question

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 annum​

Answer 1

Answer:

10% per annum

Step-by-step explanation:

Given: Principle = x

           Time = 2 years

           Rate = y

           Simple interest = x/5

           i = PTR/100

so,

     x/5 = 2xy/100

     x/5 * 50/x = y

     x * 10/x = y

     10 = y