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The simple interest on a loan of $6000 for 3 years was $900. What was the rate of interest per annum​

The simple interest on a loan of $6000 for 3 years was $900. What was the rate of interest per annum​
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The simple interest on a loan of $6000 for 3 years was $900. What was the rate of interest per annum​

User Brendan Heywood
by
8.4k points

1 Answer

5 votes

Answer:

5%

Explanation:

900/3=300

300/6000=0.05

0.05=5%

User Lepidopteron
by
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