A man borrowed $8000. He paid $10100 after 9 months for the debt. What was the interest rate per annum?

Michael Maddox asked Sep 11, 2022

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Michael Maddox asked Sep 11, 2022

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24 votes

Answer:

3.5%

Explanation:

Interest = 10100 - 8000 or 2100

I = Prt

2100 = 8000(9/12)r

2100 = 600r

2100/600 = r

3.5 = r

Toppk answered Sep 16, 2022

by Toppk

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