The ordinary simple interest charged after 130 days on a loan of P 10,200 is P575. Find the interest rate.

Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
Publisher:Lynn Marecek
Chapter2: Solving Linear Equations
Section2.2: Use A Problem Solving Strategy
Problem 2.53TI: Eduardo noticed that his new car loan papers stated that with a 7.5% simple interest rate, he would...
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The ordinary simple interest charged after 130 days on a loan of P
10,200 is P575. Find the interest rate.
Transcribed Image Text:The ordinary simple interest charged after 130 days on a loan of P 10,200 is P575. Find the interest rate.
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