Q53
At what rate percent per annum will the simple interest on a sum of money be 2/5 of the principal amount in 10 years ?
At what rate percent per annum will the simple interest on a sum of money be of the principal amount in 10 years ?
A.
4%
AnswerB.
6%
C.
%
D.
%
Answer: Option A
Solution
Answer: Option A
Solution:
\begin{aligned}
& {\text{Let principal = 5 units}} \\
& {\text{Hence interest}} \\
& {\text{ = 5}} \times \frac{2}{5} \\
& {\text{ = 2 units}} \\
& {\text{Time = 10 years}} \\
& {\text{By using formula, }} \\
& {\text{Rate% = }}\frac{2}{5} \times \frac{{100}}{{10}} \\
& \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,{\text{ = 4% }} \\\end{aligned}