Question

At what rate per cent will a sum of 1200 amount to 1600 in 6 years?​

Answer 1

Step-by-step explanation:

Principal = 1200

Amount = 1600

Time = 6 years

Rate = R

Simple Interest = Amount - Principal

Simple Interest = 1600 - 1200

Simple Interest = 400

R = ( Simple Interest X 100 ) / ( Principal X Time )

R = ( 400 X 100 ) / ( 1200 X 6 )

R = 50/9%

Rate = (5)5/9%