Question

What is the rate of interest if $100 deposited in a bank for 1 year is $12​

Answer 1

P = $100

R =?

T = 1 year

Simple Interest = PRT/100

$12 = (100×R×1)/100

R = 12 %

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Answer 2

Answer:

Step-by-step explanation:

p=$100

r=?

t=1yrs

SI=$\frac{PRT}{100}$

12=100*r*1/100

12=1*r*1

12=r