Monu receives simple interest 5/7 of the principal amount on an amount of Rs.28000 in 15 years from his friend. What is the rate of interest per annum?
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Monu receives simple interest 5/7 of the principal amount on an amount of Rs.28000 in 15 years from his friend. What is the rate of interest per annum?
$\frac{S I}{P}=\frac{5}{7},$$P=$ Principal, $T=$ Time, $R=$ Rate$S I=\frac{P \times R \times T}{100}$$5 x=\frac{7 x \times R \times 15}{100}$$R=\frac{100}{21}$$R=4 \frac{16}{21} \%$