Question

makena borrowed sh 16000 from a bank that charged simple interest .At the end of the year this money had amounted to sh 18400 at what rate per annum was the simple interest charged steps

Answer 1

Answer:

15%

Step-by-step explanation:

Sum is- 16000

Sum+interest - 18400

Interest = 18400 -16000= 2400

Interest rate= 2400/16000*100%= 15%

The answer is 15%