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

A. 4%

B. 6%

C. $$5\frac{2}{3}$$ %

D. $$6\frac{2}{3}$$ %

Answer: Option A

Solution(By Examveda Team)

$$\eqalign{ & {\text{Let principal = 5 units}} \cr & {\text{Hence interest}} \cr & {\text{ = 5}} \times \frac{2}{5} \cr & {\text{ = 2 units}} \cr & {\text{Time = 10 years}} \cr & {\text{By using formula, }} \cr & {\text{Rate% = }}\frac{2}{5} \times \frac{{100}}{{10}} \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,{\text{ = 4% }} \cr} $$