Question

What was the rate of interest if 500,000 earned 80,000 in 5 years please show solution

Answer 1

Answer:

SI=(p×r×t)/100

(80000×100)/500000×5=r

r=(8×10)/5×5

16/5= 3.2%

Answer 2

In my own understanding

u will do 500,000×80,000×5

all over 100

then it will be 5,000×80,000×5

which is equal to 2,000,000,000