Asked by Diana
Principal of $600 is invested at 3.6% /a simple interest, paid annually, for 12 years. What is the rate of return?
A) 43.2% B) 21.6% C. 7.2% D) 0.6%
A) 43.2% B) 21.6% C. 7.2% D) 0.6%
Answers
Answered by
Arora
S.I. = P * R * T
= 600 * 0.036 * 12
= 259.2
Rate of interest = (S.I/P)*100
= (259.2/600)*100
= 43.2%
= 600 * 0.036 * 12
= 259.2
Rate of interest = (S.I/P)*100
= (259.2/600)*100
= 43.2%
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