Question

Investment after 20 years equals 130000. original investment was 50000. What was the interest rate?

Answer 1

Explanation:

The formula states that

S. I=P*R*T/100

R=S. I*100/P*T

Simple Interest= Amount - principal

Simple Interest = 130000 - 50000

Simple Interest = 80000

R= 80000*100/50000*20

R= 800000/100000

R=8%