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Mathematics

Answered

If the simple interest on %900 for 3 years was $108, what was the rate of interest?
A. 3%
B. 4%
C. 12%
D. 25%

Answer :

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Answer:

B) 4%

Step-by-step explanation:

Interest = Principal x Rate x Time

108 = 900 x 3 x r

108 = 2700r

108/2700 = r

r = 0.04 or 4%

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