Question

i) rate of interest on a sum of 7280 for 5 years if the simple interest is 2002​

Answer 1

Step-by-step explanation:

we know that

SI=PRT/100

where

SI= SIMPLE INTEREST

P= PRINCIPAL AMMOUNT ALSO CALLED SUM

R= RATE OF INTEREST

T= TIME

GIVEN

SI=2002

P=7280

,T=5

R=?

putting all the values

2002= 7280*5*R/100

R=5.5