If the simple interest for five years is equal is 35% of the principal, that ​ 8 ​ ( 43 − 89 ) ​ ​ ​

Explanation

Given: The simple interest for five years is equal is 35% of the principal. Concept used: Simple Interest, SI = (P × R × T)/100 Amount = P + SI where P = Principal amount R = Rate of interest per year T = Time in years Calculation: Let the principal and rate of interest be P and R% per annum respectively. According to the question, (P × R × 5)/100 = P × 35% ⇒ (R × 5) = 35 (∵ P ≠ 0) ⇒ R = 35/5 ⇒R=7 ∴ The rate of interest is 7% per annum.