frankfuther frankfuther

26-06-2016
Mathematics

Answered

if the principal and the amount of interest for one year are known, the rate of interest of interest can be found

Verified Answer :

olemakpadu olemakpadu

26-06-2016

For Simple Interest, I = PRT/100

Time = 1 year.

I = PR1/100

100*I = PR

100I / P = R

The formula for the Rate, R = 100I / P.

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