document.write( "Question 1186683: a loan of 2700$ can be repaid in 100 days by paying the principal sum borrowed plus 75$ interest what was the rate if interest charged
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Algebra.Com's Answer #849345 by ikleyn(52787) $\"\"$ $\"About$

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\n" ); document.write( "a loan of 2700$ can be repaid in 100 days by paying the principal sum borrowed
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document.write( "This problem is on simple interest\r\n" );
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document.write( "    75 = ,\r\n" );
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document.write( "where r is the simple interest per year (365 days).\r\n" );
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document.write( "From this equation, we find\r\n" );
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document.write( "    r =  = 0.101388889\r\n" );
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document.write( "or 0.1 = 10% per year approximately.    ANSWER\r\n" );
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