Question

at what rate of simple interest will $5000 amount to $ 6050 in 3 years 4 months? ​

Answer 1

Answer:

6.3%

Step-by-step explanation:

1st convert the 3years 4mnths to year by dividing 12 in 4 months which becomes 3+(1/3) years =10/3

and principal and amount is given from which we can find the interest. by putting the value of principal,time and interest in the equation of I=PRT/100 WE CAN GET R%