Question

Malik deposited $3,000 in a savings account, in earned $300 in simple interest after 5 years. Find the interest rate on Malik's savings account.​

Answer 1

Answer:

Interest rate= $1500

Step-by-step explanation:

P= $3000

R=$300

T=$5years

Rate in percentage= 300/3000×100

= 10percentage

Simple Interest = P×R×T/100

= 3000×10×5/100

= 30000×5/100

= 150000/100

= 1500

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Answer 2

Answer:

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Step-by-step explanation:

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