Question
Download Solution PDFSimple interest on a sum of money for 5 years is
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFLet P = principal, R = rate of interest and N = time period
Simple interest = PNR/100
Given,
N = 5 years
Then,
⇒ 2/5 × P = (P × R × 5)/100
⇒ R = 200/25
Last updated on Jun 2, 2025
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