Answer:
[tex] \boxed{ \bold{ \huge{ \boxed{ \sf{1.7 \: \%}}}}}[/tex]
Step-by-step explanation:
Given,
Interest ( I ) = $ 17
Principal ( P ) = $ 500
Time ( T ) = 2 years
Rate ( R ) = ?
Finding the simple Interest rate :
[tex] \boxed{ \bold{ \sf{rate = \frac{interest \times 100}{principal \times time}}}} [/tex]
[tex] \dashrightarrow{ \sf{rate = \frac{17 \times 100}{500 \times 2} }}[/tex]
[tex] \dashrightarrow{ \sf{rate = \frac{1700}{1000} }}[/tex]
[tex] \dashrightarrow{ \sf{ rate = 1.7 \: \%}}[/tex]
Hope I helped!
Best regards! :D
