Ask Question
15 November, 18:49

If the simple interest on $6,000 for 2 years is $840 , then what is the interest rate?

+5
Answers (1)
  1. 15 November, 18:51
    0
    7 %

    Step-by-step explanation:

    i do not know if you use this but I use S. I=P*R/100*T S. I=840 P for principal (the money you borrow or lend) = 6000 T for time=2 years. R for rate=? In order to find out the rate, you need to substitute all these numbers into their respective places. 840=6000*r/100*2 6000/100=60 840=60*r*2 840=120r r=7%
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “If the simple interest on $6,000 for 2 years is $840 , then what is the interest rate? ...” in 📗 Mathematics if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers