Rayan deposited the
amount of 8,000/= in a bank for 7 years and got a profit of 2800/=. Find the
interest rate?
Solution
I = 2800/=, P =
8,000/=, T = 7 years, R = ?
I = PRT
100
2800 = 8,000 x R x 7
100
2800 = 8,000 x R x 7
100
2800 = 80 x R x 7
2800 = 560R
52800 = 560R
Hence
the interest rate was Tsh 5%
TRY THIS……………….
Kibonde deposited the
amount of 18,000/= in a bank for 4 years and got a profit of 3000/=. Find the
interest rate?
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