Question

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

Answer 1

let us assume that the certain amount be rupees 10,000.

number of years=T=5

principal=P=₹10,000

rate of interest=R=?

30% on sum=30×10,000÷100

=3,000

simple interest =P×R×T÷100

3000=10000×R×5÷100

R=100×3000÷10000×5

R=30÷5

R=6%