Question 172697
Simple Interest:{{{I=Prt}}}
Where---->{{{system(I=Interest,P=Principal,r=rate,t=time)}}}
We know, {{{I=10000}}} --->{{{65000-55000=10000}}}
Then,
{{{10000=55000(r)(3)}}}
{{{10000=165000(r)}}}
{{{cross(10000)0.060606/cross(165000)=cross(165000)r/cross(165000)}}}
{{{r=0.060606*100}}} = 6.060606%, Answer
Thank you,
Jojo