Question

$2000 was invested for 3 years . it earned $204 in interest. what was the rate

Answer 1

Answer:it is $12,240

Explanation:

given: principal=$2000

time=3 years

interest=$204

he genearal formular of RATE = I*P*T/100

from the formular= P*R*T( RATE WITH 100, because the rate is calculated over 100)

=$204*3*$2000/100

=$12,240