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If the simple interest on ​$5,000 for 6 years is ​$2​,400 then what is the interest​ rate? The rate is __%

If the simple interest on ​$5,000 for 6 years is ​$2​,400 then what is the interest​ rate? The rate is __%
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1 vote
If the simple interest on ​$5,000 for 6 years is ​$2​,400 then what is the interest​ rate?

The rate is __%

User Krystian Szymukowicz
by
7.8k points

1 Answer

1 vote

Answer:

8%

Explanation:

2400 ÷ 6 = 400

400/5000 × 100 = 8%

User Kevin Ghadyani
by
8.4k points
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