Question

If simple interest on 8960 for 3 years is 1344 find the rate of interest in percent per annum

Answer 1

Answer:

5%

Step-by-step explanation:

SI for 3years =1344

SI for 1 year=1344 /3 =448

ROI = (448/8960)*100

also calculate with interest formula I/Pt = r

1344 divide by (8960x 3) and multiple by 100

Answer 2

Answer:

5%

Step-by-step explanation:

SI=P×R×T/100

therefore;

R=SI×100/P×T

R= 1344×100/8960×3

=134400/26880

=5% Ans.