Question

if the simple interest on $900 for 3 years was $108 ,what was the rate of interest?

Answer 1

Answer:

RATE OF INTEREST = 4%

Step-by-step explanation:

as,

SI = PRT/100

SI=108 , P= 900 , T=3 YEARS AND WE HAVE TO FIND R= ?

PUTTING THE VALUES IN EQUATION ,

=>108= 900*R*3/100

=>108*100 = 2700*R

=>10800 = 2700*R

=>R = 10800/2700

=> R= 4 %

THEREFORE, RATE OF INTEREST = 4%

HOPE IT HELPS YOU : )