Question

The interest on a sum of money at the end of $2\frac{1}{2}$ years is $\frac{4}{5}$ of the sum.What is the rate percent?

Answer 1

Consider the given data.

$T=2\frac{1}{2}=\frac{5}{2}years,$

$R=?$

Let the sum be $x$

Since, the interest is $\frac{4}{5}$ of sum.

So, interest $=\frac{4x}{5}$

We know that

$S.I=\frac{P\times R\times T}{100}$

$\frac{4x}{5}=\frac{x\times R\times \frac{5}{2}}{100}$

$\frac{4}{5}=\frac{R\times 5}{2\times 100}$

$R=\frac{4\times 2\times 100}{5\times 5}$

$R=\frac{4\times 2\times 100}{25}$

$R=32\%$