Question

In how much time will the simple interest on a sum of money at 8% p.a. be 2/5 of the principal?​

Answer 1

Answer:

5 years.

Step-by-step explanation:

Given:

The simple interest be 2/5 of the principal at 8 percent per annum.

Formula used:

Simple interest (S.I) = Principal(P) × Rate(R) × Time(T)/100

Calculation:

According to the question,

S.I = (2/5)P, P = P, R = 8%

Time(T) = (S.I × 100)/(P × R)

⇒ ((2/5)P × 100)/(P × 8)

⇒ 200/40

⇒ 5 years

∴ The time is 5 years.