The simple interest of a certain sum for 5 years is equal to 2/5 of its amount, then find the rate of interest.
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Let rate of interest = r%
Sum = P
So P*5*r/100 = 2*P/5
=> r = 200/25 = 8
So rate percentage is 8% per annum
Sum = P
So P*5*r/100 = 2*P/5
=> r = 200/25 = 8
So rate percentage is 8% per annum
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