Register

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

The simple interest on a loan of $6000 for 3 years was $900. what was the rate of interest per annum? Please help :)
67.7k views
1 vote
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
by
8.5k points

1 Answer

6 votes
R=i/pt
R=900/6000*3=0.05*100=5%
User Rodolfo Velasco
by
8.8k points
← Prev Question Next Question →

Related questions

User Lexpj
asked Oct 20, 2021 48.3k views
Find the simple interest rate per annum on $22,000, if at the end of 3 years the interest is equal to $6000
Lexpj asked Oct 20, 2021
by Lexpj
8.3k points
1 answer
4 votes
48.3k views
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.4m questions

12.2m answers

Categories

Other Questions

How do you can you solve this problem 37 + y = 87; y =
What is .725 as a fraction
How do you estimate of 4 5/8 X 1/3
Link Copied!