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### Grade 8 - Mathematics9.28 Simple Interest - IV

 Example: P = \$18,600, I = \$2,232 and T = 4years, then find rate of interest. Solution: Formula I = PTR/100 Where I = Interest, P = Principal, T = Time and R = Rate or interest. Therefore: R = (I*100)/(PT) Substituting the given values in the above formula. R = (2232 * 100) / (18600 * 4) R = 3% Directions: Solve the following problems. Also write at least ten examples of your own.
 Q 1: P = \$5,600, I = \$672 and T = 3years then find rate of interest.5%8%4%6% Q 2: P = \$18,600, I = \$3,348 and T = 2years then find rate of interest.9%6%7%8% Q 3: P = \$4,700, I = \$282 and T = 2years then find rate of interest.3.5%3%2%2.5% Q 4: P = \$57,600, I = \$1,728 and T = 1years then find rate of interest.2%3.5%3%2.5% Q 5: P = \$8,600, I = \$688 and T = 1years then find rate of interest.7%8%6%9% Q 6: P = \$7,600, I = \$1,368 and T = 2years then find rate of interest.6%9%7%8% Q 7: P = \$7,600, I = \$152 and T = 2years then find rate of interest.1%2.5%1.5%2% Q 8: P = \$52,600, I = \$7,364 and T = 2years then find rate of interest.9%8%6%7% Question 9: This question is available to subscribers only! Question 10: This question is available to subscribers only!