Question

Calculate the rate per cent p.a. at which
a N245 will earn N117.60 in 8 years​

Answer 1

`\boxed{ \bold{ \huge{ \boxed{ \sf{6 \: \% \: }}}}}`

Explanation:

Given

Principal ( P ) = N 245

Interest ( I ) = N 117.60

Time ( T ) = 8 years

Rate = ?

Finding the rate percent :

`\boxed{ \sf{rate = (interest \: * 100)/(principal * time) }}`

plug the values

⇒
`\sf{ (117.60 * 100)/(245 * 8) }`

Calculate

⇒
`\sf{ (11760)/(1960) }`

⇒
`\sf{6 \: \%}`

Hope I helped!

Best regards!!