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If $420 yields $31 in simple interest over 30 months what is the annual rate
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If $420 yields $31 in simple interest over 30 months what is the annual rate

User Ashark
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Simple interest=Principal*Rate*Time
31=420*R*2.5 years
r =2.95%
Annual rate of interest=2.95%
User Ajay Lingayat
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