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.
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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.
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