S
Sreejil
28 Mar 19

A sum becomes 1.6 times of itself in 5 years at simple rate of interest. Find the rate of interest per annum ? Pls explain stepwise..

Replies to this post

S
Soumya

Consider Principle as 100 If 100 becomes its 1.6 times in 5yrs Means 100 becomes 160 in five years S I is 60 Substitute in formula 60= 100×5×r/100 r=60/5 =12%

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S
Soumya

12%

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