Question 1172778
Will you please kindly help with this question on compound interest.800 is invested at r% per annum simple interest for 3 years to 168, use formula SI=PRT all divided by 100 to calculate the value of r.
<pre>SI = PTR
168 = 800(3)R ----- Substituting 168 for SI, 800 for P, and 3 for T
Interest rate or {{{highlight_green(matrix(1,7, R, "=", 168/800(3), "=", .07, or, "7%"))}}}
It's as SIMPLE as that!