Question

The simple interest on a sum of money at the end of 8 years is 2
5 th of the sum itself. Find the rate
percent p.a

Answer 1

Answer:

let the sum(p) to be x.

Then interest will be 2x/5.

rate =(S I ×100)/p×t

=(2x/5×100)/x×8

=40x/8x

=5;

Therefore rate = 5%per annum.

Answer 2

Explanation:

this is the correct explanation