At what rate percent per annum will the simple interest on a sum of money be $\frac{2}{5}$ of the amount in 10 yrs.

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4 %

\frac{17}{3} %

6 %

\frac{20}{3} %

answer is D.

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Detailed Solution

Concept- Proceed to solve this question using the result that the absolute value is the sum of the principle and the simple interest. Therefore, you can find the desired interest rate by applying the question conditions given to this result.
Simple interest

Let us consider x as principle
Given time (T)=10 years
Rate(R)=r% per annum
Putting the value in simple interest formula
We get,

Amount is calculated by adding principle and simple interest

The simple interest on the total amount of money is given to be

of the amount. As per the given question, therefore
Question Image

On further solving, we get
Question Image

From both sides cancel x and do cross multiplication
Question Image

Hence, the correct answer is option 4)