We know, Interest rate = P * R * T / 100
Here, Interest (I) = 8925
Principle rate (P) = 35,000
Time (T) = 72 months = 72/12 = 6 years
Rate (R) = ?
Substitute their values into the expression:
8925 = 35000 * R * 6 / 100
R = 8925 * 100 / 35000 * 6
R = 892500 / 210000
R = 4.25%
In short, Your Final Answer would be 4.25%
Hope this helps!
