Question

find the rate : interest = 1600, principal = 5000 , time = 4 years​

Answer 1

Step-by-step explanation:

Given :-

• Interest = 1600
• Principal = 5000
• Time = 4 years

Find :-

• Rate of interest = ?

Solution :-

• $\frac{ Interest }{ Principal \: × \: Time }$ = Rate of interest

• $\frac{ 1600 }{ 5000 \: × \: 4 }$ = Rate of interest

• $\frac{ 1600 }{ 20,000 }$ = Rate of interest

• $\frac{ 16 }{ 200 }$ = Rate of interest

→ Rate of interest = 0.08