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If the simple interest on ​$1,000 for 10 years is ​$600​, then what is the interest​ rate?

If the simple interest on ​$1,000 for 10 years is ​$600​, then what is the interest​ rate?
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If the simple interest on ​$1,000 for 10 years is ​$600​, then what is the interest​ rate?

User Sheinis
by
8.2k points

1 Answer

1 vote

Answer:

60 or 70

Explanation:


10 * 600 = 60000 \\


1000 / 60000 = 60


60 + 10 = 70

User Nexuswho
by
7.9k points
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