$2,500 was invested for 3 years and earned $450 in interest find the rate of interest
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Answered by
4
When you have not given the interest is compounded or simple so it's mean it is simple interest.
p = 2500$
t = 3 years
si = 450$
r = ??
si = prt/100
450 = 2500×r×3/100
r = 450/75= 6% p.a.
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Answered by
0
SI=P*R*T÷100
450=2500*3*r÷100
450÷2500=3*r÷100
(9÷50)÷3=r÷100
(3÷50)*100=r
6%=r
450=2500*3*r÷100
450÷2500=3*r÷100
(9÷50)÷3=r÷100
(3÷50)*100=r
6%=r
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