Question

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

Answer 1

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Explanation:

Answer 2

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%