Answer:
rate of interest=R=5.5%
Step-by-step explanation:
given principle=P=$1200
simple interest=S.I=$396
time=T=6 years
simple interest=[tex]\frac{P\times R\times T}{100}[/tex]
$396=[tex]\frac{1200\times R\times 6}{100}[/tex]
$396=[tex]72\times R[/tex]
R=[tex]396\div 72[/tex]
R=5.5%
rate of interest=R=5.5% answer
