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The simple interest on a loan of $6000 for 3 years was $900. what was the rate of interest per annum? Please help :)
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The simple interest on a loan of $6000 for 3 years was $900. what was the rate of interest per annum? Please help :)

User Ncardeli
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1 Answer

6 votes
R=i/pt
R=900/6000*3=0.05*100=5%
User Rodolfo Velasco
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