The rate of interest is 7%. To find the rate of interest, use the formula
, where I is the interest, P is the principal, R is the rate, and T is the time.
Rearrange the formula to solve for R, substitute the given values, and simplify to find the rate of interest. The final probability cannot be determined as more information is required.
To calculate the simple interest, we use the formula:
Where I is the interest, P is the principal amount, R is the rate of interest, and T is the time in years. Given that the principal amount is 425 and the interest is 238, we can rearrange the formula to solve for R:
Substituting the given values, we get:
Simplifying the expression, R is approximately 0.07 or 7%. Therefore, the rate of interest is 7%.
To find the final probability, more information is needed as the question refers to finding the probability of something, but the context is unclear.