Question

Que porcentaje se ha colocado un capital de 8,000 que produce 600 de interés durante 3 años?

Answer 1

Given parameters:

Capital = 8000

Interest accrued = 600

Duration or time = 3yrs

Unknown:

Interest rate = ?

To solve this problem, we use the simple interest formula.

Interest is the return on an investment.

Capital is starting amount

Duration is the time length of an investment.

Simple interest formula is given as:

SI =
`(PRT)/(100)`

Where SI is the simple interest

P is the principal

R is the interest rate

T is the time

The unknown here is the interest rate;

PRT = 100SI

Now input the parameters and solve for R;

8000 x R x 3 = 100 x 600

24000R = 60000

R =
`(60000)/(24000)` = 2.5%

The interest rate is 2.5%