The true discount for an amount of $3100, due 6 months hence is $100. Calculate the rate percent of interest.

[dmitrii_fediuk]

splessons.com/lesson/true-discount-problems

30%

(3100 * 0.5 * T) / (100 + (0.5 * T)) = 100
R = 6.666…
1 / 6.666 = 15
15 * 2 = 30