A girl wants to count the steps of a moving escalator which is going up. If she is going up on it, she counts 60 steps. If she i
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Answer:
The rate of simple interest is 25.89 %
Step-by-step explanation:
Given as :
The principal = $2350
The Amount = $2500
The time period = 90 days = year = 0.2465 year
Let The rate of interest = R %
So, Interest = Amount - Principal
Or, Interest = $2500 - $2350 = $150
<u>From Simple Interest method </u>
Simple Interest =
Or, $150 =
or, $150 × 100 = $579.275 × Rate
So, Rate =
∴ Rate = 25.89 %
Hence The rate of simple interest is 25.89 % Answer