Knight Tyler
09/05/2024 · High School
An amount of \( \mathrm{R} 8000,00 \) is invested at the beginning of a year at a certain simple rate of interest. After eight months, another amount of R1 164,00 is invested in a second account at a simple interest rate twice the former. At the end of the year, R 903,00 is earned as simple interest from both investments. What is the original simple yearly rate of interest, rounded to two decimal places?
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The original simple yearly rate of interest is 10.34%.
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