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If you put $15000 in the bank for 6 years and earned 3375$ in interest what is the interest rate

If you put $15000 in the bank for 6 years and earned 3375$ in interest what is the interest rate
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If you put $15000 in the bank for 6 years and earned 3375$ in interest what is the interest rate

User TkTech
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1 Answer

3 votes

Answer:

Explanation:

Simple interest= Principal×Time ×Rate/100

Rate= $3375×100/$15000×6

Rate=3.75%

User Codingninja
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