Question

What is the rate percent per annum if $ 2 500 simple interest is paid when $ 18 000 is invested for 2.5 years?

Answer 1

Answer:

5.55% p.a.

Step-by-step explanation:

P= $18000

T=2.5 yrs

I= $2500

R=(I x 100)/PT

=(2500 x 100)/(18000x2.5) %p.a.

=5.55 % p.a.