A certain math textbook is 3/4 of an inch thick. how many of these books will fit on a shelf that is 3 feet wide
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The rate of simple interest for loan was 8%
Step-by-step explanation:
Given
Principal amount = p = $6200
Time = t = 1 year
Amount after interest = $6696
We have to calculate the amount of interest first
So,
Interest amount =I= Amount after interest - principal amount
= 6696-6200
=$496
The formula for simple interest is:
The rate of simple interest for loan was 8%
Keywords: Simple interest, percentage
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