$2,500 was invested for 3 years and earned $450 in interest find the rate of interest
Answers & Comments
usp488 When you have not given the interest is compounded or simple so it's mean it is simple interest. p = 2500$ t = 3 years si = 450$ r = ?? si = prt/100 450 = 2500×r×3/100 r = 450/75= 6% p.a. I HOPE IT IS HELPFUL. THANKYOU !!
Answers & Comments
When you have not given the interest is compounded or simple so it's mean it is simple interest.
p = 2500$
t = 3 years
si = 450$
r = ??
si = prt/100
450 = 2500×r×3/100
r = 450/75= 6% p.a.
I HOPE IT IS HELPFUL.
THANKYOU !!
450=2500*3*r÷100
450÷2500=3*r÷100
(9÷50)÷3=r÷100
(3÷50)*100=r
6%=r