Question

the sum of money becomes 18/15 of itself in 4 years at a certain rate of simple interest.find the rate of interest????​

Answer 1

Answer:

68#

Step-by-step explanation:

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Answer 2

Given :-

• the sum of money becomes 18/15 of itself in 4 years at a certain rate of simple interest.

To find :-

• find the rate of interest

Solution :-

Let the sum of money be P(which is the principal value) and rate of interest be R.

According to the question,

Amount (principal +simple interest) = 8P/5

Time (T) = 5 years

Simple interest (SI) = PRT/100

SI = 5PR/100

Amount = P +SI

8P/5 = P+(5PR/100)

8P/5 = P(100+5R)/100

160 = 100 +5R

5R =60

R = 12

Therefore, rate of interest = 12% p.a.