Question

Malik deposited $1,050 in a savings account, and it earned $251.50 in simple interest after four year.S Find the interest rate on Malik's savings account

Answer 1

if it's true simple interest then each year's interest is the same so interest for one year is a quarter of 241.50 which give you the rate but if each year's interest in left in the account the result will be different , it is a really poorly worded question