Question

Andrew lent Roger RM4800 for 7 months. At the end of this period Roger had to pay Andrew an interest of RM119. What was the rate of simple interest per annum?

Pls answer. plsplsplsplspls

Answer 1

Answer:

The rate of simple interest per annum is 4.25%

Step-by-step explanation:

From the above question, they have given :

Andrew lent Roger RM4800 for 7 months.

At the end of this period Roger had to pay Andrew an interest of RM119.

Here we need to calculate the rate of simple interest per annum.

Simple interest is calculated with the following formula: S.I. = P × R × T, where P = Principal, R = Rate of Interest in % per annum, and T = Time, usually calculated as the number of years.

               I = Prt

               P = I / rt

                r = I / Pt

                R = r * 100

                 t = I / Pr

Hence,

    119 / 4800 = 0.02479

                         0.02479/(7/12)

0.02479*12/7 = 0.0425

                       = 4.25%

The rate of simple interest per annum is 4.25%

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