Question

At what rate per cent per annum will $400 yield an interest of $78 in 5 years ?

Answer 1

HEY DEAR . ✌

___________________________

here,

P = 400

T = 11/2

S.I. = 78

Applying formula of SI

78 = (400×R×11)/(100×2)

78 = 22 R

R = 78/22

R = 3.54%

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