Question

How to find rate when amount principal and time is given?

Answer 1

Step-by-step explanation:

To find Rate when Principal Interest and Time are given the rules are.

Interest = (Principal × Rate × Time)/100

Rate = (100 × Interest)/(Principal × Time)

Examples to find Rate when Principal, Interest and Time are given:

1. Find Rate, when Principal = $ 3000; Interest = $ 400; Time = 3 years.

Solution:

Principal = $ 3000,

Interest = $ 400,

Time = 3 years.