Answer:
The rate of interest will be "139.94 %".
Step-by-step explanation:
The given values are:
Principal money borrowed, P = 51.100
Time, T = 125 days i.e., T = 125/369
Interest, I = $24.49
As we know,
[tex]I=\frac{P\times R\times T}{100}[/tex]
On putting the values in the above formula, we get
⇒ [tex]24.49=\frac{51.100\times R\times \frac{125}{365}}{100}[/tex]
On applying cross-multiplication, we get
⇒ [tex]2449=51.100\times R\times \frac{125}{365}[/tex]
⇒ [tex]\frac{2449\times 365}{51.100\times 125}=R[/tex]
⇒ [tex]\frac{893885}{6387.5}=R[/tex]
⇒ [tex]139.94 \ percent=R[/tex]
Note: percent = %
