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Alika [10]
3 years ago
10

If $206.40 amounts to$237.36 in 2 years, find therate of simple interest perannum​

Mathematics
1 answer:
saveliy_v [14]3 years ago
8 0

Answer:

The interest rate is 7.5%

Step-by-step explanation:

You get the difference from the new number and the original. In this case, it is 30.96.  I then divided the original by  30.96. The answer turned out to be .15. I doubled checked my answer by timing the original by .15 and adding it. But, I had to divide .15 by 2 so I could get the amount per year. So, it would be 7.5% per year of interest.

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<h3>Answer ↓</h3>

<h3>Calculations ↓</h3>

In order to make a the subject of this equation , we need to get a by itself .

The current equation is :

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Now, divide by t on both sides :

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<h3>So the formula looks like ↓</h3>

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