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If the simple interest on a certain sum of money for 4 years is one–fifth of the sum, then the rate of interest per annum is
If the simple interest on a certain sum of money for 4 years is one–fifth of the sum, then the rate of interest per annum is
Answer: Option D
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Answer : Option D
Explanation :
Let the Principal(P) be x
Then, Simple Interest(SI) = x/5
Time(T) = 4 years
$MF#%\text{Rate of interest per annum(R) = }\dfrac{100 \times \text{SI}}{\text{PT}} = \dfrac{100 \times \dfrac{x}{5}}{x \times 4} = \dfrac{20}{4}= 5\%$MF#%
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