A sum of mone becomes 8/5 of itself in 5 years at a certain rate of simple intrest.find the rate ofintrest
take a $1 investment
1 + 1(5)r = 8/5
5r = 8/5 - 1 = 3/5
r = 3/25 or .12 or 12%
1 + 1(5)r = 8/5
5r = 8/5 - 1 = 3/5
r = 3/25 or .12 or 12%