Question

The simple interest on certain principal is 1/5 of the amount in 5 years, find the rate of interest.
a. 5%
b. 80%
c 6 2/3
d 10%​

Answer 1

the answer to is percent is b

Answer 2

The rate is 4% per year.

To find the rate of interest.

What is simple interest ?

Simple Interest (S.I.) is the method of calculating the interest amount for a particular principal amount of money at some rate of interest.

Given that:

Let, principal is P,

so, interest is P/5 in 5 yrs.

As from the formula of simple interest,

So, P/5 = P× R ×5/ 100 (R = rate)Or, R = 4%

So, rate is 4% per year.

Learn more about simple interest here:

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The missing option is e. 4%