The principal amounts to 600% of itself. This means the interest earned is 600% - 100% = 500% of the principal.
Let the principal be P.
Simple interest (SI) = 500% of P = 5P.
SI = (P x R x T) / 100
5P = (P x R x 20) / 100
5 = (R x 20) / 100
500 = 20R
R = 500 / 20 = 25%
So, the simple interest rate is 25% per annum.
Principal (P) = Rs. 500,000
Rate (R) = 25%
Time (T) = 2 years
We can use the compound interest formula:
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