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Evgesh-ka [11]
3 years ago
15

5 What rate of interest is paid on a deposit of $2000 which earns $400 interest in 5 years?

Mathematics
1 answer:
marishachu [46]3 years ago
3 0

Answer:

4%

Step-by-step explanation:

Given

  • I = 400
  • P = 2000
  • R = ?
  • T = 5 years

Formula

  • I = PRT

Solving.

  • I = PRT
  • 400 = 2,000 × R × 5
  • 400 = 10,000 × R
  • 400 / 10,000 = R
  • 0.04 = R

Change 0.04 to percent

  • 0.04 × 100 = 4%

Answer:

  • 4%
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