Question

Kala invested $8000 in a fund for 6 years and was paid simple interest. The total interest that she received on the investment was $2400. As a percentage, what was the annual interest rate of her investment?

Answer 1

33.3%

Explanation:

8000 divided by 2400 is 3.33

3.33 x 10 is 33.3 to make it out of 100%

so she gets one third of her investment