Answer:
The rate is 0.27%
Step-by-step explanation:
If interest = $108, principal = $10000, time = 4 years
Simple Interest = (principal × rate × time)/100
rate = (interest × 100)/(principal × time)
Substitute the value into the formula above
Rate = (108×100)/(10000×4)
= 108/400
Rate = 0.27%
