In mathematics, a rate is a ratio between two measurements, often with different units. If the unit or quantity in respect of which something is changing is not specified, usually the rate is per unit time. However, a rate of change can be specified per unit time, or per unit of length or mass or an other quantity. The most common type of rate is speed, heart rate and flux. Rates that have a non-time denominator include exchange rates, literacy rates and electric flux.
In describing the units of a rate, the word "per" is used to separate the units of the two measurements used to calculate the rate (for example a heart rate is expressed "beats per minute"). A rate defined using two numbers of the same units (such as tax rates) or counts (such as literacy rate) can be expressed as a percentage or fraction or as a multiple.
Often "rate" is a synonym of rhythm or frequency, a count per second e.g. radio frequencies or heart rate or sample rate.
A question:
Jill lent Bruce 4800 for 5 months. At the end Bruce had to pay Jill an intrest of 85 dollars. What was the rate of simple interest per annum?
Solution:
Rate of interest
=100%($85.00/[$4,800.00{5/12}])
=100%($85.00/$2,000.00)
=100%(17/400)
=4.25%
Answer: 4.25%
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