if simple interest on certain amount is 2/5 of the sum in 1 year and 9 months find the rate percent per annum of interest?
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Answer:If you receiver \$9 as interest, find the time for which the money stayed at the bank. ... STEP 1: Convert interest rate of 1.2% per month into rate per year. .... Find the interest earned and the amount at the end of those 3 years? ... Example 3: You deposit some money into a bank account paying 4% simple interest per year.
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R = 2/5 x100*4/7.........
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