Question

simple interest earned on a certain sum in 5 years is 30% of the sum find the rate of interest

Answer 1

30/5 = 6 %

RATE OF INTEREST IS 6%

Answer 2

Answer:

6%

Step-by-step explanation:

Let the sum be x

We are given that simple interest earned on a certain sum in 5 years is 30% of the sum

So, simple interest =$\frac{30}{100}x=0.3x$

Time - 5 years

Let rate of interest be r

Simple interest = $\frac{P \times R \times T}{100}$

$0.3x=\frac{x \times r \times 5}{100}$

$0.3=\frac{r \times 5}{100}$

$6=r$

Hence the rate of interest is 6%