If the simple interest on $2000 increase by $40,when the time increase by 4 years.

If the simple interest on $2000 increase by $40,when the time increase by 4 years. Find the rate percent per annum.

Answer/Solution

0.5%

Steps/Work

Applying the above formula, we have
40=2000*r*4/100
r=40*100/2000*4=0.5%.
Answer is B

Gain Calculator / Auto Solver

If the simple interest on $ increase by $ , when the time increase by years. Find the rate percent per annum.

Calculated Answer

0.5

Step by Step Solution

In order to solve problem, you must evaluate (n₁ / n₂) / n₀ * 100.

n₀ =	2000
n₁ =	40
n₂ =	4

(n₁ / n₂) / n₀ * 100
Evaluate n₁ / n₂ = 10
10 / n₀ * 100
Evaluate 10 / n₀ = 0.005
0.005 * 100
Evaluate 0.005 * 100 = 0.5
0.5
The answer to the problem and the result of (n₁ / n₂) / n₀ * 100 is 0.5