The rate of simple interest (in %) for which | vedclass

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(C) Let the principal amount be $P$.Since the sum becomes $5$ times itself,the final amount $A = 5P$.The simple interest $(S.I.)$ is given by $S.I. =

Vedclass · Accepted Answer

$50$

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(C) Let the principal amount be $P$.Since the sum becomes $5$ times itself,the final amount $A = 5P$.The simple interest $(S.I.)$ is given by $S.I. = A - P = 5P - P = 4P$.The formula for simple interest is $S.I. = \frac{P 	imes R 	imes T}{100}$,where $R$ is the rate of interest and $T$ is the time in years.Substituting the values: $4P = \frac{P 	imes R 	imes 8}{100}$.Dividing both sides by $P$: $4 = \frac{8R}{100}$.$400 = 8R$.$R = \frac{400}{8} = 50 \%$.Therefore,the rate of interest is $50 \%$.

The rate of simple interest (in $\%$) for which a sum of money becomes $5$ times of itself in $8$ years is:

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