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A loan of £9200 gains interest of £2576 in 4 years. Find the simple interest rate. ​
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A loan of £9200 gains interest of £2576 in 4 years. Find the simple interest rate. ​

User Sargam Modak
by
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1 Answer

3 votes

Answer:

7%

Explanation:

1 yr interest

2576 ÷ 4 = 644

1 yr interest rate

644 ÷ 9200 = 7

check

7% x 9200 x 4yrs = 2576

User Khaledh
by
8.3k points
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