The simple interest received on a sum for 40 years is 2/5 of the sum. what is the annual rate of interest?
Question: The simple interest received on a sum for 40 years is 2/5 of the sum. what is the annual rate of interest? Answer: 3. 1 percent Solution:formula S.I= PXRXT/(100)2/5X = X(R)(40)/(100)R= 1 percent