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 the sum be Rs P

Thus,S.I.=30% of P

30/100×P

=Rs 30P/100

=Rs 3P/10

T=5yrs

R=?

S.I.=P×R×T/100

3P/10=PR/20

3(20P)=10PR

60P=10PR

R=60P/10P

R=6%p.a.

Answer 2

Answer:

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