SOLUTION: Ms. Jordan has been given a loan of $2500 for 1 year. If
the interest charged is $275, what is the interest rate on the loan?
Algebra.Com
Question 33590: Ms. Jordan has been given a loan of $2500 for 1 year. If
the interest charged is $275, what is the interest rate on the loan?
Answer by priya(51) (Show Source): You can put this solution on YOUR website!
let P be the principle ,R be the interest rate (%),N be the number of years,
then the formula is given by,
I = P*N*R/100
= 2500 * 1* R/100
HERE I IS GIVEN ,THAT IS 275,
275 = 25 *1* R (Simplyfying)
Therefore R = 275 /25
= 11 %
this is the answer.
VISIT MY SITE TO LEARN MATHS ONLINE!!!
PRIYA
RELATED QUESTIONS
Ms. Jordan has been given a loan of $2500 for 1 year. If the interest charged is $275,... (answered by funmath)
Ms. Jordan has been given a loan of $2500 for 1 year. If the interest charged is $275,... (answered by uma,funmath)
Ms. Jordan has been given a loan of $2500 for 1 year. If
the interest charged is $275,... (answered by stanbon)
Ms. Jordan has been given a loan of $2500 for 1 year. If the interest charged is $275,... (answered by tutorcecilia)
Ms. Jordan has been given a loan of $2500 for 1 year. If
the interest charged is $275,... (answered by 303795)
Ms. Jordan has been given a loan of $2500 for 1 year. If
the interest charged is $275,... (answered by dolly)
Ms. Jordan has been given a loan of $2,500 for 1 year. If
the interest charged is $275,... (answered by BrittanyM)
ms. jones has been given a loan of $2500 for 1 year. if the interest charged is $275,... (answered by checkley71)
Can someone help me on this problem?
Ms. Jordan has been given a loan of $2500 for 1 (answered by stanbon)