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lulubob
lulubob lulubob
  • 09-03-2016
  • Mathematics
Answered

Find the interest rate.

Interest: $24

Principal: $400

Time:2 years

Verified Answer :

RASEA23
RASEA23 RASEA23
  • 09-03-2016

Interest= Principal x Rate x Time (in yrs)
24=400 x R x 2
24=800 x R
R=24/800
R=.03
R= 3 %

Hope this helps :)

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