contestada

Find the rate of interest, if the interest is 490 the sum(principal) is 7000 for 2 years. Please use this formula for this answer Interest = principal*rate of interest*time/ 100

Respuesta :

Answer:

Step-by-step explanation:

rate of interest=(interest×100)÷(principal×time)

=(490×100)÷(7000×2)=3.5 %