1000 test scores are approximately normally distributed with a mean of 60 and a standard deviation of 8, if a grade of B is assi
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Answer:
rate of interest = 5.92%
Step-by-step explanation:
Given,
- Principle value,P = $1900
- interest earned, I = $58
- time, T = 6 months
= 0.5 year
As the interest is being calculated according to the rule of simple interest.
so, Simple interest can be given by,
= 5.92
so, the simple rate of interest is 5.92% annually.