Evaluate $\frac{20}{101}-\frac{20}{99}$. Express your answer in simplest form.
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<h3>The interest rate is 8 % if your balance on an investment of 857 dollars at the end of six years is 1268.36 dollars</h3>
<em><u>Solution:</u></em>
Given that,
Principal = $ 857
Amount = $ 1268.36
Number of years = 6
Rate of interest = ?
Simple Interest = Amount - principal
Simple Interest = 1268.36 - 857
Simple Interest = 411.36
<em><u>Use the formula,</u></em>
Thus the interest rate is 8 %