Answer:
8.75%
Step-by-step explanation:
The formula for calculating simple interest (I) is
I = [tex]\frac{PRT}{100}[/tex]
where P is the principal, R the rate of interest and T the time in years
here I = 350, P = 2000 and T = 2, hence
350 = [tex]\frac{2000(2)R[tex] = [tex]\frac{4000R}{100}[/tex]
multiply both sides by 100
35000 = 4000R ( divide both sides by 4000 )
R = 8.75%
