1 Answer

Compy · Answer 1 · 2023-08-26T23:49:03+0000

SI =[PRT]/100
Interest = $15.62
Principal = $31
Time = 8
15.62 =[31 x R x 8]/100
15.62 x 100 = [31 x 8 x R]
[15.62 x 100] / [31 x 8] = R
1562/248 = R
6.298 = R
To the tenth
6.3 = R
Check
[31 x 6.3 x 8]/100 = 15.62

Hope that helps

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