# How do you find the rate given principal $200, time 3 years, and interest amount$30?

Oct 25, 2016

Rate is 5%

#### Explanation:

I will assume that we are using Simple Interest.

THe formula is $S I = \frac{P R T}{100}$

But we need to re-arrange the formula to make R the subject"

$R = \frac{100 S I}{P T} \text{ }$ once we have this, substitute the values.

$R = \frac{100 \times 30}{200 \times 3}$

R= 5%