Question

If the simple interest on ​$4000 for 10 years is ​$3​,200 then what is the interest​ rate?

Answer 1

320

Explanation:

js divide 3200 by 10 I guess

Answer 2

Solution,

Given, Principal (P)= Rs. $ 4000

Time(T) = 10 yrs.

Simple Interest (I)= Rs. $3,200

Rate of interest (R)= ?

Therefore, We know that,

Rate of interest (R)= I*100/PT

= 3200*100/4000*10

= 8%

Hence, Rate of interest is 8%.