Practicing Success
If the ratio of principal and the simple interest for 5 years is 10 : 7, then the rate of interest (per annum) is: |
15% 20% 10% 14% |
14% |
Ratio of principal and the simple interest for 5 years is 10 : 7 Let principal = 10P & Simple interest = 7P We know , Simple interest = \(\frac{Principal ×Rate × Time }{100}\) 7P = \(\frac{10P×Rate × 5 }{100}\) Rate = 14% |