Dulay04idn
Answered

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what is the annual rate of interest if 265 is earned in four months on an investment of 15000?

Sagot :

Indrawboyidn

The annual rate of interest : 5.3%

Further explanation

Interest: the percentage calculated from the amount of money we borrow, expressed as a percentage. Usually calculated within 1 year (12 months)

For simple interest (not compound interest) we can use the formula

[tex]\tt \boxed{\bold{i=rtP}}[/tex]

i = interest

r = interest rate

t = time (years)

P = amount borrowed

Known

interest = i = 265

time = t = 4 months = 1/3 year

amount borrowed = P = 15000

We put it in the formula:

[tex]\tt 265=r\times \dfrac{1}{3}\times 15000\\\\r=\dfrac{265\times 3}{15000}\\\\r=0.053=5.3\%[/tex]

Or we use simple calculations

[tex]\tt \%\dfrac{r}{12~month}\times 15000=\dfrac{265}{4~month}\\\\\%r\times 15000=\dfrac{265\times 12}{4}\\\\\%r=\dfrac{795}{15000}=0.053\\\\r=5.3\%[/tex]

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