Answer:
8%
Step-by-step explanation:
STEP 1: State the formula for calculating the rate
[tex]r= \frac{100 \times i}{p \times t} [/tex]
where r is the rate
i is the interest
p is the principal
t is the years
STEP 2: substitute the given values
[tex]r = \frac{100 \times 3000}{15000 \times 2.5} \\ r = \frac{300000}{37500} \\ r = 8[/tex]
