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At what simple annual interest rate must

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At what simple annual interest rate must  [#permalink]

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New post 29 Oct 2018, 05:39
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A
B
C
D
E

Difficulty:

  15% (low)

Question Stats:

93% (00:49) correct 7% (01:24) wrong based on 15 sessions

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At what simple annual interest rate must $2,500 be invested if it is to earn $225 in interest in one year?

A)6%
B)7%
C)8%
D)9%
E)10%

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Re: At what simple annual interest rate must  [#permalink]

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New post 29 Oct 2018, 07:38
NandishSS wrote:
At what simple annual interest rate must $2,500 be invested if it is to earn $225 in interest in one year?

A)6%
B)7%
C)8%
D)9%
E)10%


\(225 = \frac{2500*1*r}{100}\)

So, \(225 = 25r\)

Thus, \(r = 9\)% ; Answer must be (D)
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Re: At what simple annual interest rate must &nbs [#permalink] 29 Oct 2018, 07:38
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