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To find the rate at which naira 280 will earn naira 21.00k simple interest, we need to use the formula:
Simple Interest = (Principal x Rate x Time) / 100
Where:
Principal = naira 280
Simple Interest = naira 21.00k
Time = 1 year (assuming the interest is for 1 year)
Substituting the values in the formula, we get:
naira 21.00k = (naira 280 x Rate x 1) / 100
Simplifying the equation, we get:
Rate = (naira 21.00k x 100) / (naira 280 x 1)
Rate = 7500 / 280
Rate = 26.79%
Therefore, the rate at which naira 280 will earn naira 21.00k simple interest is 26.79%.