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A sum of R25000 amounts to R31000 in 4 years at the rate of simple interest what is the rate of interest?
in A Level Maths by Diamond (50,545 points) | 27 views

1 Answer

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A = P(1 + in)

31 000= 25 000(1 + 4i)

[31 000/25 000 - 1]/4 = i

           i = 0.06

             = 6%
by Diamond (39,535 points)

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