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%

3
S
Soumya

12%

0