Question

the simple interest on a sum of money for 5 years is 3/5 of the sum. find the rate percent per annum. (hint: let the sum be *x. then, S.I is *3x/5)​

Answer 1

Let the sum (p)=x

Than,simple interest (SI)=3x/5

Time(T)=5 years

Rate(R)=?

we know,

SI=P*T*R/100

or,3x/5=x*5*R/100

or,3x*100/5*x*5=R

or,12=R

∴R=12%

Answer 2

Answer:

Let the sum (p)=x

Than,simple interest (SI)=3x/5

Time(T)=5 years

Rate(R)=?

we know,

SI=P*T*R/100

or,3x/5=x*5*R/100

or,3x*100/5*x*5=R

or,12=R

∴R=12%

hope this helps...