SOLUTION: Andrew lent roger 4800 for 7 months at the end of this period roger had to pay andrew an interest of 119 what was the rate of simple interest per annum?

SOLUTION: Andrew lent roger 4800 for 7 months at the end of this period roger had to pay andrew an interest of 119 what was the rate of simple interest per annum?

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Question 930915: Andrew lent roger 4800 for 7 months at the end of this period roger had to pay andrew an interest of 119 what was the rate of simple interest per annum?
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
119/4800=0.02479
0.02479/(7/12)=
0.02479*12/7=0.0425
=4.25%
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