If the simple interest on a certain sum of money for 2 years be one-fifth of the sum, find the rate of interest per annum
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Answer:
10%p.a.
Step-by-step explanation:
Take principal as P, rate as R and time as T
Thus,
S.I.=PRT/100
1/5P=P×R×2/100
P/5×100=2PR
20P=2PR
R=20P/2P
R=10
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