A trader borrowed 2500$ at a sumple interest at the end of 8 months he paid back $2500 find the rate

Simos Sigma asked Oct 9, 2022

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Simos Sigma asked Oct 9, 2022

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20 votes

Answer:

Explanation:

Rate = 100×Interest ÷ Principal× Time

100× 2500/ 2500 × 8 = 800

800/100 = 8%

I hope this helps

Kimbley answered Oct 15, 2022

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