At what rate percent per annum will the simple interest on a sum of money be \(\frac{2}{5}\) of the amount in 5 years?
Answer & explanation
Correct answer: option 2
\(\frac{2 → SI}{5 → amount}\) = P + SI SI = \(\frac{3 × R × 5}{100}\)
5 = P + 2 2 = \(\frac{3 × R × 5}{100}\)
P = 3 R = \(\frac{40}{3}\)%