Mathematics: What is the rate of the interest on $560 for two years is $145.60?

Simply multiply each term from the first bracket with the 2 terms from the second bracket:(a - 5) (a + 5) = (a*a + a*5) + (-5*a + -5*5)= a^2 + 5a - 5a - 25= a^2 - 25...

What is the rate of the interest on $560 for - id5606073184, christopherandp66l91

Ответ:

sin91

24.01.2022

Mathematics

The rate of interest is 13%.

Step-by-step explanation:

Given,

Principal (P) = $560

Interest (I) = $145.60

Time (T) = 2 years

To find the rate of interest

Formula

If P principal was invested for T years at r% simple interest, the interest will be I = $\frac{PTr}{100}$

So,

Putting the values of P, I, T we get,

145.60 = $\frac{560X2Xr}{100}$

or, r = $\frac{145.60X100}{2X560}$

or, r = 13%

Hence,

The rate of interest is 13%.

0,0(0 оценок)

What is the rate of the interest on $560 for two years is $145.60?

Ответ:

Ответ:

Ask your question to the AI advisor

More tips

Answers on questions: Mathematics

Ask an AI advisor a question