Question 1148335
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<pre>

I = 7000*r*7


1960 = 49000*r


r = {{{1960/49000}}} = 0.04 = 4%.     <U>ANSWER</U>
</pre>

Solved.


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For details, see the lesson

&nbsp;&nbsp;&nbsp;&nbsp;- <A HREF=https://www.algebra.com/algebra/homework/percentage/lessons/Simple-interest-percentage-problems.lesson>Simple interest percentage problems</A> 

in this site.