($275/$2500)*100 = 11%APR
A person was given a loan of 2500 for 1yr. If the interest charge is 275.00 what is the interest rate?
11%. Its simple. Just divide 275 by 2500 and multiply by 100.
A person was given a loan of 2500 for 1yr. If the interest charge is 275.00 what is the interest rate?
rate=100*I/Pt=100*275/2500=11%
A person was given a loan of 2500 for 1yr. If the interest charge is 275.00 what is the interest rate?
11 %
A person was given a loan of 2500 for 1yr. If the interest charge is 275.00 what is the interest rate?
275*100/2500=11% simple interest
A person was given a loan of 2500 for 1yr. If the interest charge is 275.00 what is the interest rate?
i=prt
r=i/(pt)
p=2500
i=275
t=1
r=275/(2500*1)=.11=11%
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