1. A person borrows some money for 8 years at a rate of simple interest. If the ratio of principal and total interest is 5: 8, then what is the rate ( in percentage) of interest?
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By: anil on 05 May 2019 02.07 am
Let Principal amount = Rs. $$5x$$ and interest = Rs. $$8x$$ Let rate of interest = $$r\%$$ and time period = 8 years => Simple interest = $$frac{P imes R imes T}{100}$$
=> $$frac{5x imes r imes 8}{100}=8x$$ => $$frac{5r}{100}=1$$ => $$r=frac{100}{5}=20\%$$ => Ans - (B)
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=> $$frac{5x imes r imes 8}{100}=8x$$ => $$frac{5r}{100}=1$$ => $$r=frac{100}{5}=20\%$$ => Ans - (B)