Question

a girl has $4200 to invest for 4 months. if she needs the money to earn $112 in that time, at what rate of simple interest must a girl invest?

Answer 1

8%

Explanation:

i = prt

112 = 4200 * r *4/12

112 = r * (4200) * (4/12)

112 = r (1400)

112/1400 = r

.08 = r

.08 * 100 = 8%

Verify by:

i = 4200 * .08 * 4/12

i = 112