If net amount is 64,000 and intrest is 7680, what is the percentage
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Here is your answer
Total ammount = 64000
Simple Interest = 7680
Time = 1 year
Formula :-
S. I. = Price × rate × time ÷ 100
But we want rate
So formula is
Rate = S. I. × 100 ÷ price × time
Rate = 7680 × 100 ÷ 64000 × 1
Rate = 12
Your answer is 12 %.
I hope it's helpful for you. Thank you
Total ammount = 64000
Simple Interest = 7680
Time = 1 year
Formula :-
S. I. = Price × rate × time ÷ 100
But we want rate
So formula is
Rate = S. I. × 100 ÷ price × time
Rate = 7680 × 100 ÷ 64000 × 1
Rate = 12
Your answer is 12 %.
I hope it's helpful for you. Thank you
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