Question

Rate of interest for the interest $Rs.100$ on the sum $Rs.800$ in $2\frac{1}{2}$ years.

Answer 1

We know that

$SI=\frac{P\times R\times T}{100}$

$100=\frac{800\times R\times 2.5}{100}=20\times R$

$\therefore R=5\%$