Find the rate of interest per year when at simple interest :
(b) $ 7000 amounts to $ 9240 in 2 years 8 months.
[ Hint : 2 years 8 months = 2 whole 2 by 3 years ]
(b) $ 7000 amounts to $ 9240 in 2 years 8 months.
[ Hint : 2 years 8 months = 2 whole 2 by 3 years ]
Answers & Comments
Verified answer
Answer:
22.4% per year
Step-by-step explanation:
p=7000
amt=9240
time=2year
amount = principal + interest
Interest = Amt-principal
=9240-7000
=2240÷100
=22.4%
mark as brainlist