Solve a word problem involving simple interest

Mathematics

2 answers:

kolbaska11 [484]3 years ago

8 0

Answer: 1.05%

Step-by-step explanation:

Principal= $30000

Time= 4 years

Rate= Unknown

Interest= 1260

Simple interest= PRT/100

1260= (30000×R×4)/100

Cross multiply

1260×100= 120000R

126000=120000R

Divide both side by 120000

R= 126000/120000

R= 1.05%

Umnica [9.8K]3 years ago

8 0

1.05% do I need to show work?

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