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Find the rate of interest, if the interest is 490 the sum(principal) is 7000 for 2 years

Find the rate of interest, if the interest is 490 the sum(principal) is 7000 for 2 years
asked 138k views
1 vote
Find the rate of interest, if the interest is 490 the sum(principal) is 7000 for 2 years

asked
User GuLearn
by
8.5k points

1 Answer

3 votes

Answer:

Rate=3.5%

Explanation:

i=prt/100

490=7000*2*r/100

490=140r

r=490/140

r=3.5%

answered
User SMKrizan
by
8.7k points
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