Question

Complete the Table.

| Principal:18,000| Interest Rate:?%| Time:54 months|Simple interest:4252.50|

Answer 1

Hope this will help u...

Answer 2

Interest rate = 5.25%

Explanation:

Simple Interest = Pnr = 4252.50

n = time = 54 months = 4.5 years

r = rate of interest = ?

P = 18,000

r = SI/Pn = 4252.50 / 18000× 4.5

= 0.0525 = 5.25%