Scarlet deposited $500 in a savings account with simple interest. One year later she had earned $30 in interest. What was the interest rate?

asked Oct 7, 2022 226k views

0 votes

4.6k points

Please log in or register to add a comment.

10 votes

Answer:

Explanation:

Interest = Principal x Rate x Time (in years)

30 = 500r

r = 3/50 or 6/100 which is 6%

5.4k points

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

5.3m questions

6.9m answers