SOLUTION: 1. The simple interest on Gh72.000.00 for 3 n half year is Gh 18,000.00 What is the rate per annum ?

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Question 1073244: 1. The simple interest on Gh72.000.00 for 3 n half year is Gh 18,000.00
What is the rate per annum ?
Answer by jorel1380(3719) About Me  (Show Source):
You can put this solution on YOUR website!
18000/72000=.25 simple interest for 3-1/2 years
.25/3.5=0.07142857142857142857142857142857, or 7.142857% per annum. ☺☺☺☺