R, which is the rate is 20%.
What is simple interest?
Simple interest is the interest on a sum of money invested or borrowed for a specific period of time.
The sum invested is called the principal.
Analysis:
simple interest (I) = PRT/100 = 300
P = principal = 3000
R = rate = ?
T = 0.5 year
300 = 3000 x R x 0.5/100
R = 20%
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