Find the rate at which n280.00 will earn n21.00 simple interest
I= PRT
Simple interest =
280 Nigerian naira X 2.5 X 0.03
= 21 Nigerian naira
How To Solve It
Big help this is
GUCHI!
Pls how did you get 0.03 and 2.5ಥ⌣ಥ(⊙_☉)
Solution to find the rate at which 280 will earn 21 simple interest for one whole number one over two
Online, “*” is used to indicate multiplication to avoid confusion with “x” as an unknown.
Faffing
Pls how did you get 0.03 and 2.5
To find the rate at which n280.00 will earn n21.00 in simple interest, we need to use the formula for simple interest:
Simple Interest = Principal * Rate * Time
Where:
- Principal is the initial amount (n280.00 in this case)
- Rate is the interest rate (unknown)
- Time is the time period for which the interest is calculated
We can rearrange the formula to solve for the interest rate (Rate):
Rate = Simple Interest / (Principal * Time)
In this case, the Simple Interest is n21.00, the Principal is n280.00, and the Time is not given. Without the time period, it is not possible to determine the exact interest rate.