What will be the rate of simple interest if A certain sum of money increases By 60% in 5 years ?

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Solution

Let the amount be x
It is given in the question that after five years amount has increased by 60 %.
That means this 60% of the money is interest amount.
I=PRT
60x/100=xR5
R%=0.12
Therefore the rate of interest is 0.12*100=12%.

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What will be the rate of simple interest if A certain sum of money increases By 60% in 5 years ?

Let the amount be x It is given in the question that after five years amount has increased by 60 %. That means this 60% of the money is interest amount. I=PRT 60x/100=x*R*5 R%=0.12 Therefore the rate of interest is 0.12*100=12%.

Let the amount be x
It is given in the question that after five years amount has increased by 60 %.
That means this 60% of the money is interest amount.
I=PRT
60x/100=xR5
R%=0.12
Therefore the rate of interest is 0.12*100=12%.