Question

Simple interest on a sum of money at the end of 4 yrs is 4/5 of the sum itself. Find the rate % per annum.

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Answer 1

Answer:

20%

Step-by-step explanation:

let the principal be $p$

rate=$r$

time=$t$

simple interest= $\frac{4p}{5}$

simple interest =p×r×t/100

p×r×t/100 = $\frac{4p}{5}$

r×4=4×100/5

4r=80

r=$\frac{80}{4}$

r = 20%