SOLUTION: if Rs.500 amount to Rs. 640 in 4 years.Find the rate percent of simple interest.

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Question 841322: if Rs.500 amount to Rs. 640 in 4 years.Find the rate percent of simple interest.
Answer by hamsanash1981@gmail.com(151) About Me  (Show Source):
You can put this solution on YOUR website!
P = 500 amount = 640 then Simple interest earned = 640 - 500 = 140
N = 4 and R =x
Simple interest = p*n*r*/100
140+=+500%2A4%2Ax%2F100
x = 7
The rate of interest is 7%