Answer:
9%
Step-by-step explanation:
Given :
Principal, P = 400
Time, t = 4 months = 4/12 = 0.33333
Simple interest = 12
Simple interest = (principal * rate * time)
Rate = r
12 = (400 * r * 0.33333)
12 = 133.3333r
r = 12 / 133.3333
r = 0.090000
r = 0.09
rate = 0.09 * 100% = 9%
