At what rate per cent per annum will $400 yield an intrest of $78 in 1 1/2 years
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Hi ,
principal ( P ) = $400
Interest ( I ) = $78
Time ( T ) = 1 1/2 years = 3/2 years
Let the rate of interest = R%
R = ( 100 × I ) / ( PT )
= ( 100 × 78 ) / [400 × ( 3/2 ) ]
= ( 100 × 78 × 2 ) / ( 400 × 3 )
= 13%
Therefore ,
required rate of interest = ( R ) = 13%
I hope this helps you.
:)
principal ( P ) = $400
Interest ( I ) = $78
Time ( T ) = 1 1/2 years = 3/2 years
Let the rate of interest = R%
R = ( 100 × I ) / ( PT )
= ( 100 × 78 ) / [400 × ( 3/2 ) ]
= ( 100 × 78 × 2 ) / ( 400 × 3 )
= 13%
Therefore ,
required rate of interest = ( R ) = 13%
I hope this helps you.
:)
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