George Inkling withdrew $550 simple interest from an account after 5 years. If he invested $3,437.50, how much was his rate of interest?
Answers
Answer:
His rate of interest(R) = 3.2%.
Explanation:
As per the given condition we have,
Interest withdrew(I)=$ 550 , Time(T)= 5 years , and the sum invested (P) = $3,437.50.
Use formula:
Substituting the above values to find the rate of interest (R);
or
On simplify we get;
R =3.2%
therefore, his rate of interest(R) is, 3.2%.
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The average of 11, 16, and 18 is 15.
To find the average of a set of numbers, you add all the numbers together and then divide the sum by the total count of numbers. In this case, you want to find the average of 11, 16, and 18.
Step 1: Add all the numbers together.
In this case, we have three numbers: 11, 16, and 18. To find the sum of these numbers, you simply add them together:
11 + 16 + 18 = 45
Step 2: Count the total number of values in the set.
In this case, there are three numbers in the set: 11, 16, and 18.
Step 3: Divide the sum by the total count of numbers.
To find the average, you divide the sum (45) by the total count of numbers (3):
Average = 45 / 3 = 15
So, the average of 11, 16, and 18 is 15.
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