To solve the problem of finding the interest rate, we can use the simple interest formula:

$\text{Simple Interest (SI)} = \frac{P \times R \times T}{100}$

Where:

• $P$ is the principal amount (initial amount), which is $5000.
• $R$ is the interest rate (what we need to find).
• $T$ is the time in years, which is 12 years.
• SI is the simple interest, which is $6000.

Given:

• $P = 5000$ dollars
• $T = 12$ years
• $\text{SI} = 6000$ dollars

We substitute the values into the formula:

$6000 = \frac{5000 \times R \times 12}{100}$

Now, solve for $R$:

$6000 = \frac{5000 \times R \times 12}{100}$

Multiply both sides by 100 to eliminate the fraction:

$600000 = 5000 \times R \times 12$

Now, divide both sides by $5000 \times 12$:

$R = \frac{600000}{5000 \times 12}$

Simplifying:

$R = \frac{600000}{60000} = 10\%$

So, the interest rate is 10%.

Would you like more details or have any questions?

---

Here are 5 related questions for further practice:

1. If $4000 earns $800 simple interest in 4 years, what is the interest rate?
2. Find the time required for $3000 to earn $900 as simple interest at a rate of 5%.
3. Calculate the simple interest earned by $7000 in 5 years at a rate of 8%.
4. If $2500 is invested at a 12% interest rate, how much interest will it earn in 3 years?
5. How much time will it take for $6000 to double itself at a 6% simple interest rate?

Tip: Always ensure the units (e.g., years for time, percentage for interest rate) are consistent when applying formulas.