Find the rate at which 280 will earn 21 simple interest for 2½

Answer 1

years

The rate of simple interest is 8.4%.

The formula for calculating simple interest is:

I = P x R x T

Where I is the interest, P is the principal amount, R is the rate of interest, and T is the time period.

Therefore, we can solve for R by rearranging the equation:

R = I / (P x T)

R = 21 / (280 x 2.5)

R = 0.084

Therefore, the rate of simple interest is 8.4%.

Answer 2

R≠280*21=