Question

If the simple interest on $3600 is more than the interest on $3200 by $108 in 3 years. Find the rate of interest.

Answer 1

@abhishekdas.onlie Use the formula I=PRT in this question is basicaly can u find the principal, time, and rate? you can also look the answer up on google and it should tell you
Um... I would try typing in google how to find simple interest and trust me I still have a hard time on simple interest so you might want to use google!

Answer 2

Thanks

Answer 3

No problem any time

Answer 4

\[I = Prt\] will give us the simple interest on a balance of \(P\) for \(T\) years at \(r\) interest (expressed as a decimal—5% = 0.05\)

I = 3600r(3) for the $3600 investment
I = 3200r(3) for the $3200 investment
3600r(3) = 3200r(3) + 108
Solve for \(r\)