Question

When will a principal yield a simple interest equal to 2/5 of itself the rate of 8%?

Answer 1

A principal will yield a simple interest equal to 2/5 of itself the rate of 8% in 5 years

Step-by-step explanation:

Let the period is n years

rate of interest r = 8%

If the principle amount is P

then the interest I = (2/5)P

We know that simple interest is given by

$I=\frac{nPr}{100}$

or, $\frac{2}{5}P=\frac{nP\times 8}{100}$

or, $n=\frac{2\times 100}{5\times 8}$

or, $n=5$ years

Therefore, the period is 5 years.

Hope this answer is helpful,

Know More:

Q: Simple interest on a certain sum is 9/16 of the sum . Find the rate percent and time if both are numerically equal

Click Here: https://brainly.in/question/3211542

Q: At what rate of simple interest will sum of money double itself in 20 years?

Click Here: https://brainly.in/question/7238106

Answer 2

A principal will yield simple interest equal to 2/5 of itself at the rate of 8% in 5 years term.

Step-by-step explanation:

Given: Rate of interest r = 8%

Let P be the principal, and N be the term.

Simple interest = (2/5)P

Formula for SI = PNR/100

 So PNR/100 = 2/5P

We know that simple interest is given by

   8N/100 = 2/5

    N = 2*100 / (5 * 8)

    N = 200/40

     N = 5.

A principal will yield simple interest equal to 2/5 of itself at the rate of 8% in 5 years term.