Question

$a = 7500 \\ p = 6000 \\ n = 5yr \\ find \: the \: value \: of \: r$

Answer 1

Is it simple interest?
A = (PRT/100) + P
So,
7500 = 6000(5R/100 + 1)
75/60 - 1 = 5R/100
5/4 - 1 = 5R / 100
¼×100 = 5R
25/5 = R
5 = R

So, the rate is 5% per annum

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