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O Amy pays interest each months on a loan of £4000. After 3 months she has paid a total of £27 interest. Work out the monthly rate of interest.
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O Amy pays interest each months on a loan

of £4000. After 3 months she has paid a
total of £27 interest. Work out the monthly
rate of interest.

User Izza
by
5.4k points

1 Answer

3 votes
27/3 = 9 £ (per month)
4000-100%
9-x

x=9*100/4000 = 0,225%(per month)
User Poelie
by
5.5k points
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