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If the simple interest on ​$4000 for 2 years is ​$400​, then what is the interest​ rate?

If the simple interest on ​$4000 for 2 years is ​$400​, then what is the interest​ rate?
asked 131k views
14 votes
If the simple interest on ​$4000 for 2 years is ​$400​, then what is the interest​ rate?

asked
User Surajz
by
8.8k points

1 Answer

8 votes

Explanation:

the answer is 5 percentage because the formula is 100 * 400 over 4000 * 2

answered
User Taylor Johnson
by
7.7k points
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