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jaydenbrock
25.11.2019 •
Mathematics
Ed stein paid $40.00 interes tonaloan
of $2,000 for 3 months
what's the rate of interest hepaid?
Solved
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Ответ:
The rate of interest paid on the principal amount is 8%.
Step-by-step explanation:
Here, Principal Amount = $2,000
Time = 3 months = (3/ 12 ) Years = 0.25 years
Rate = R
Interest Amount = $40
Now, as we know :
Simple Interest =![\frac{P \times R \times T}{100}](/tpl/images/0390/2375/f1a30.png)
⇒![40 = \frac{2,000 \times R \times 0.25}{100}\\\implies R = \frac{40 \times 100}{2000 \times 0.25} =8](/tpl/images/0390/2375/d3982.png)
or, R = 8%
Hence, the rate of interest paid is 8%.
Ответ: