if simple interest on 800 for 3 years is 54 what is the rate
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1
Answer:
Rate = 2.25%
Step-by-step explanation:
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Answer:
R ( rate) = 2.25 per annum.
Step-by-step explanation:
Given values are,P = 800 ,T = 3 years,and S.I = 54
Rate = (simple interest × 100) / (P × T)
= (54 × 100) / (800 × 3)
=5400 / 2400
Rate= 2.25 per annum.
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