Question

Orlandis earned 2.5% interest on a bank balance of $80. What is the amount of interest earned?

Answer 1

Given

Bank balance = $80

Interest rate = 2.5%

Amount of interest earned = 2.5% of $80

Amount of interest earned = 2.5/100 of $80

Amount of interest earned = (2.5*80)/100

Amount of interest earned = 200/100

Amount of interest earned = $2.0

hence the amount of interest rate is $2.0