Answer:

Explanation:
Given,
Principal ( P ) = N 250
Time ( T ) = 4 years
Amount ( A ) =N 330
Rate ( R ) = ?
First, finding the Interest :
According to definition of Amount ,
Amount = Principal + Interest
plug the values
⇒

Move i to left hand side and change it's sign
⇒

Calculate
⇒

Change the signs of the both equation
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Interest = 80
Finding the rate :
Simple Interest =

plug the values
⇒

Multiply the numbers
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Apply cross product property
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Multiply the numbers
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Divide both sides of the equation by 1000
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Calculate
⇒

Thus, Rate = 8 %
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Let's learn about Principal , Interest , Time , Rate and Amount :
- Principal = The money which is borrowed or deposited is called principal.
- Interest = The additional amount of money which is paid by borrower to the lender is called interest.
- Time = The duration of time for which principal us deposited or borrowed is termed as time period.
- Rate = The condition under which the insterest is charged is called rate.
- Amount = The sum of principal and Interest is called an amount.
Hope I helped!
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