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Sagot :
The rate is 1.2%.
What is Simple interest?
Simple interest is interest calculated on the principal portion of a loan or the original contribution to a savings account.
Given:
P = 5000
T =6 month= 1/2 year
SI= 300
We know,
SI= P*R*T/100
300= 500* R * 1 /200
60000= 500R
R= 60000/500
R= 120
R= 1.2%
Learn more about simple interest here:
https://brainly.com/question/25845758
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