Susan needs R750.00 urgently.Gladys is prepared to lend her the money on the condition that she pays her R825.00 seven months from now.The simple interest rate that Gladys earns on this transaction is.
I = PRT
75 = 750 * R * 0.58333
75 = 437.5R
75/437.5 = R
0.1714 = 17.14% = R