SOLUTION: Calculate the rate if a man receives $8400 as interest on $13125 in 8years

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Question 964878: Calculate the rate if a man receives $8400 as interest on $13125 in 8years
Answer by amarjeeth123(569) About Me  (Show Source):
You can put this solution on YOUR website!
Interest=Ptr/100
8400=13125*8*r/100
8400=1050*r
r=8400/1050=8
The rate of interest is 8 percent.