Question

At what interest rate will the given principal P earn the given simple interest I in the given term t?
1. P = 150,000; I = 1,000; t = 2 yrs.
2. P = 35,000; I = 600; t = 1 yrs.

Answer 1

Answer:

Step-by-step explanation:

1)

p=150000

i=1000

t=2yrs

we know,   i=p*t*r/100

100000=150000*2*r

10/30=r

r=0.333%  same  process in 2