The simple interest on $1600 for 3 years was $108. What was the rate percent
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Answer:
2.25%
Step-by-step explanation:
principal = 1600
Time = 3
SI = 108
R% = ?
SI = PTR/100
R = (SI * 100)/PT
= (108 * 100)/1600*3
= 2.25%
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