A sum of money becomes 8/5 of itself in 5 years at a certain rate of simple interest. Find the rate of interest???​

The rate of intrest is 5 because i said so

Answer : 12%

explanation :

Let the sum of money be P(which is the principal value) and rate of interest be R.

According to the question,

Amount (principal +simple interest) = 8P/5

Time (T) = 5 years

Simple interest (SI) = PRT/100

SI = 5PR/100

Amount = P +SI

8P/5 = P+(5PR/100)

8P/5 = P(100+5R)/100

160 = 100 +5R

5R =60

R = 12

Therefore, rate of interest = 12% p.a.

Imagine first splitting 6 wholes up into fourths. That means that, for each whole (each 1) in 6, we're creating 4 equal slices. This gives us 4 x 6 = 24 total slices, which we call fourths. How many groups of 3 fourths (3/4) can you make out of those 24 fourths (24/4)? If we throw aside the label fourths for a minute, in general, if we have 24 things, how many groups of 3 things can we make out of those? Well, our answer there would just be 24 ÷ 3 = 8 groups.

The same thing applies to fourths. If we have 24/4, and we divide it by 3/4, we get 24 ÷ 3 = 8 groups again, so our answer is 8 3/4-pound packages.