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Anastasy [175]
3 years ago
5

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

Mathematics
1 answer:
Ad libitum [116K]3 years ago
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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