Question

Sathya deposited `6,000 in a bank and received `7500 at the end of 5 years.




find the rate of interest.

Answer 1

ANSWER:--

Calculation:

First, converting R percent to r a decimal

r = R/100 = 3.875%/100 = 0.03875 per year,

Solution to this equation...

I = 6000 × 7500× 5 =

I = $ 225,000,000

The simple interest accumulated

on a principal of $ 10,000.00

at a rate of 3.875% per year

for 5 years is $ 225,000,000

hope it helps!!