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# The annual interest rate earned by an investment increased

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Manager
Joined: 05 Jul 2006
Posts: 198
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The annual interest rate earned by an investment increased [#permalink]  18 Aug 2006, 05:52
The annual interest rate earned by an investment increased by 10% from last year to this year. If the annual interest rate earned by the investment this year was 1%, what was teh annual interest rate last year?
A.1%
B.1.1%
C.9.1%
D.10%
E.10.8%
VP
Joined: 02 Jun 2006
Posts: 1267
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Re: Percentage Problem [#permalink]  18 Aug 2006, 08:04
lan583 wrote:
The annual interest rate earned by an investment increased by 10% from last year to this year. If the annual interest rate earned by the investment this year was 1%, what was teh annual interest rate last year?
A.1%
B.1.1%
C.9.1%
D.10%
E.10.8%

Think C should be 0.91% which should be the right answer.
Senior Manager
Joined: 14 Jul 2005
Posts: 402
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Agree with haas_mba... 0.91% is correct
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# The annual interest rate earned by an investment increased

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