if the simple interest on a certain sum of money of 2 year be one fifth of the sum find the rate of interest per annum
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Let the principal be ₹x.
Time = 2 years
Interest = 1/ 5 of ₹ x
= ₹x /5
Rate = 100 × interest / principal × time
= 100 × (₹x / 5) / ₹x × 2
= 10
Ans. = The rate if interest is 10% per annum.
Hope it helps!!!
Time = 2 years
Interest = 1/ 5 of ₹ x
= ₹x /5
Rate = 100 × interest / principal × time
= 100 × (₹x / 5) / ₹x × 2
= 10
Ans. = The rate if interest is 10% per annum.
Hope it helps!!!
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