Question

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

Answer 1

Answer:

4%

Step-by-step explanation:

Smp. Int. = P × I × t

So i = int. ÷ (p×t)

= 108 ÷ (900×3)

= 0.04

So, I = 0.04×100 = 4%