SOLUTION: At what rate percent with the interest on 2520 rupees add up to 84 rupees in 8 months?

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Question 807872: At what rate percent with the interest on 2520 rupees add up to 84 rupees in 8 months?
Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
At what rate percent will the interest on 2520 rupees add up to 84 rupees in 8 months?
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Interest = principal*rate*time
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84 = 2520*r*(2/3)
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84 = 1680r
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rate = 84/1680 = 0.05 = 5%
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Cheers,
Stan H.