Answer:
[tex] \boxed{ \bold{ \huge{ \boxed{ \sf{6 \: \% \: }}}}}[/tex]
Step-by-step explanation:
Given
Principal ( P ) = N 245
Interest ( I ) = N 117.60
Time ( T ) = 8 years
Rate = ?
Finding the rate percent :
[tex] \boxed{ \sf{rate = \frac{interest \: \times 100}{principal \times time} }}[/tex]
plug the values
⇒[tex] \sf{ \frac{117.60 \times 100}{245 \times 8} }[/tex]
Calculate
⇒[tex] \sf{ \frac{11760}{1960} }[/tex]
⇒[tex] \sf{6 \: \%}[/tex]
Hope I helped!
Best regards!!
