For borrowing 300 for one month, a man was charged 6.00. The rate of interest was
P = 300, I = 6, t = 1 12 , r = ? Using simple interest formula: I = Prt 6 = 300 × 1 12 × r r = 6 × 12 300 × 100 Multiplied by 100 to find percent r = 24%
P = 300, I = 6, t = 1 12 , r = ?
Using simple interest formula: I = Prt
6 = 300 × 1 12 × r
r = 6 × 12 300 × 100 Multiplied by 100 to find percent
r = 24%
1297 MCQ for effective preparation of the test of Interest of Word Problems section.
Read the MCQ statement: For borrowing 300 for one month, a man was charged 6.00. The rate of interest was , keenly and apply the method you have learn through the video lessons for Interest to give the answer. Record your answer and check its correct answer and video explanation for MCQ No. 234-13001.