If the simple interest on a certain sum of money for 5 years is one–fifth of the sum, then the ...

If the simple interest on a certain sum of money for 5 years is one–fifth of the sum, then the rate of interest per annum is

Answer/Solution

Steps/Work

Explanation:
Let the Principal(P) be x
Then, Simple Interest(SI) = x/5
Time(T) = 5 years
Rate of interest per annum(R) = (100×SI)/PT
= (100 × (x/5)/(x × 5) = 20/5 = 4%
Answer: Option D

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If the simple interest on a certain sum of money for years is one – fifth of the sum, then the rate of interest per annum is

Calculated Answer

Step by Step Solution

In order to solve problem, you must evaluate (100 / (1 + 4)) / n₀.

n₀ =	5

(100 / (1 + 4)) / n₀
Evaluate 1 + 4 = 5
(100 / 5) / n₀
Evaluate 100 / 5 = 20
20 / n₀
Evaluate 20 / n₀ = 4
4
The answer to the problem and the result of (100 / (1 + 4)) / n₀ is 4

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