Find out the Rate

The simple interest on a sum for 5 years is two-fifth of the sum. The rate percent per annum is

  1. 10%
  2. 8%
  3. 6%
  4. 12.5%
Monis Rasool Professor Asked on 21st May 2015 in Maths.
Add Comment
  • 1 Answer(s)

    Answer:(2) 8%
    Let be the sum is X and rate is R

    Formula

    Simple Interest = (P x R x T)/100      where, P = Principle, R = Rate, T = Time

    Now, According to question,
    P = X, T = 5 years and Rate =?

    SI = X x 2/5 = 2X/5

    2X/5 =(X x R x 5)/100

    R = 8%       Ans.

    Hence, the rate percent per annum is 8%

    Anurag Mishra Professor Answered on 22nd May 2015.
    Add Comment
  • Your Answer

    By posting your answer, you agree to the privacy policy and terms of service.