Question 1184705
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<pre>

Use the base formula


    I = P*r*t,


where I is the interest, P is the principal, r is the annual simple interest rate, t is the time.


From the formula,


    r = {{{I/(P*t)}}} = {{{24102/(312000*1.5)}}} = 0.0515 = 5.15%.    <U>ANSWER</U>
</pre>

Solved.



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To see many other similar &nbsp;(and different) &nbsp;solved problems on simple interest accounts, &nbsp;look into 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.



Learn the subject from there.