Question

If the simple interest on $900 for three years was $108, what was the rate of interest.


please answer quick

Answer 1

Answer:

Step-by-step explanation:

prt/100=simple interest

p=principal

r=rate of interest

t=time

900*3*rate=108

=2700*rate=108

=rate=(1/25%)

Answer 2

The given question is If the simple interest on $900 for three years was $108,

we have to find the rate of interest.

The simple interest for $ 900 for 3 years is $108.

The number of years is 3.

The principal amount is $900

The simple interest is $108

The formula for the simple interest is

$\frac{pnr}{100}$

$\frac{900 \times 3 \times x}{100} = 108 \\ \frac{9 \times 3 \times x}{1} = 108 \\ 27x = 108 \\ x = \frac{108}{27} \\ x = 4$

The value of x is 4.

Therefore the rate of interest is 4%

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