3 years ago

if the principal and the amount of interest for one year are known, the rate of interest of interest can be found

1 answer:

7 0

For Simple Interest, I = PRT/100

Time = 1 year.

I = P*R*1/100

100*I = PR

100I / P = R

The formula for the Rate, R = 100I / P.

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I hope this helps you

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