Explain how to solve for the rate in a simple interest equation if you are given the interest amount, the principal, and the tim

Question

tensa zangetsu [6.8K]

2 years ago

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Explain how to solve for the rate in a simple interest equation if you are given the interest amount, the principal, and the tim

e.

Mathematics

1 answer:

FrozenT [24] · Answer 1 · 2022-03-21T14:58:05+03:00

Answer:

divide the interest amount by the product of the principal and time

Step-by-step explanation:

The simple interest formula is I = prt where I is the interest, p is the principal, r is the rate and t is the time (in years). Rewriting this formula so that r is the subject we get r = I / pt. Therefore the answer is divide the interest amount by the product of the principal and time.