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Easy

Question

# The simple interest on a sum of money at the end of 5 years is of the sum. Find the rate of interest?

Hint:

### We have SI to be of the principal amount.

## The correct answer is: 16%

### Complete step by step solution:

Let the sum of money = P

It is given that times the sum =

We calculate simple interest by the formula,

where P is Principal amount, T is number of years and R is rate of interest

Here, we have , and R = ?

On substituting the known values, we have

On rearranging the above equation, we get

On further simplifications, we get

At 16% rate of interest, the simple interest on a sum of money at the end of 5 years is of sum Itself.

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