Question

The simple interest on a sum of money for 5years is 3/5of the sum.find the rate percent per annum

Answer 1

Step-by-step explanation:

Let the sum = 100

the S.I. of 100 for 5 years = 100×3/5

= 60

the S.I. for 1 year = 60/5 = 12

gain on 100 in 1 year = 12

therefore the rate of S.I. on the sum for 1 year = 12%

Answer 2

Answer:

Let Rsx be the sum.

so,the simple interest will be $\frac{3x}{5}$

S.I.= $\frac{P×R×T}{100}$

$\frac{3x}{5}$ = $\frac{x×R×5}{100}$

R = $\frac{3x × 100}{5 × x × 5}$

R = 12%