Respuesta :
Answer:
[tex]\$21.1[/tex]
Step-by-step explanation:
We know that for principal amount P , time period T and rate of interest [tex]R\%[/tex] , simple interest is given by [tex]S.I. = \frac{P\times R\times T}{100}[/tex] .
Here ,
[tex]P=\$1600\\T=2\,\,months=\frac{2}{12}\,\,years=\frac{1}{6}\,\,years\\S.I=\$56.24[/tex]
To find : simple interest rate i.e., [tex]R\%[/tex]
On putting values of [tex]P\,,\,T\,,\,S.I[/tex] in formula , we get [tex]S.I. = \frac{P\times R\times T}{100}[/tex]
[tex]56.24 = \frac{1600\times R\times 1}{600}\\R=\frac{56.24\times 600 }{1600}=\frac{703\times 3}{100}=\$21.09[/tex]
Now we need to round off the answer to the nearest tenth .
So, simple interest rate is % = [tex]\$21.09[/tex] = [tex]\$21.1[/tex]
