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The simple interest on a sum after 4 years is \(\frac{1}{5}\) of the sum. The rate of interest per annum is:1. 4%2. 6%3. 5%4. 8% |
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Answer» Correct Answer - Option 3 : 5% Given: SI = 1/5 × P T = 4 yr Formula used: SI = P × R% × T Calculation: SI = P × R% × T ⇒ 1/5 × P = P × R/100 × 4 ⇒ 20/4 = R ⇒ R = 5% ∴ The rate of interest per annum is 5%. |
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