A man borrowed $8000. He paid $10100 after 9 months for the debt. What was the interest rate per annum?
1 answer:
Answer:
3.5%
Step-by-step explanation:
Interest = 10100 - 8000 or 2100
I = Prt
2100 = 8000(9/12)r
2100 = 600r
2100/600 = r
3.5 = r
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