Question

Simple interest on a sum of money at the end of 5 years is 4/5 of the sum itself. find the rate percent per annum.

Answer 1

Answer:

16%

Step-by-step explanation:

intrest = principal into rate of interest into time upon hundred

Answer 2

Given:-

• Simple interest on a sum of money at the end of 5 years is 4/5 of the sum itself.

Need to find out:-

• The rate percent per annum.

Let us take sum ( Principal ) as P.

Here,

• Time = 5 years
• Simple Interest = 4/5 P

Therefore:-

• P × R × T/100 = 4/5 P

=> P × R × 5/100 = 4/5 P

=> Rate of interest = 4/5 × 100/5

=> Rate of interest = 16

Hence:-

• Rate of interest = 16% per annum.