Question

The simple interest for a sum of money be 2/5 th of the principal in 10 years . The rate of interest is ​

Answer 1

Answer:

4% p.a.

Step-by-step explanation:

Let the principal be x

Term = 10 years

Interest for 10 years= (2/5)x = 0.4 x

So interest rate for 1 year = 0.04x

Which is 4% of x

So, at 4% per annum simple interest, interest on the sum of money will be 2/5 of principal in 10 years.

Answer = 4% p.a.