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29 June, 18:26

If the simple interest on $5,000 for 7 years is $1,750 , then what is the interest rate?

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  1. 29 June, 18:39
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    p is the interest rate

    in one year we get 5000*p/100 profit

    after 7 years 7 * 5000*p/100

    so, 7*50*p=1750

    p=5%
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