The interest on a sum of money at the end of 2 and a half years is 4/5 of sum. what is
the rate percent ?
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Answer: Let the sum (P) = Rs. 100
∴ S.I. = Rs. 100 × (4/5) = Rs. 80
Period (T) = 2. 1/2 = 5/2 Years.
∴ Rate = S.I. × 100/P × T = 80 × 100 × 2/100 × 5 = 32% p.a.
Step-by-step explanation:
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