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The interest of $6000 in 3 years is 600. what is the simple interest rate?who is this
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The interest of $6000 in 3 years is 600. what is the simple interest rate?who is this

User ScoRpion
by
7.4k points

1 Answer

2 votes

Answer:

  • 3.33%

Explanation:

The interest amount in one year:

  • 600/3 = 200

Interest rate:

  • 200/6000*100% = 3.33%
User Fitzroy
by
7.1k points
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