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Popular Word Problems >

After 2 years, 30,000 deposited in a savings account with simple interest had earned 4,800 in interest. What was the interest rate?

Solución

A f t er 2 ye a rs, 30, 000 d e p os i t e d in a s a v in g s a cco u n t w i t h s im pl e in t eres t ha d e a r n e d 4, 800 in in t eres t . Wha t w a s t h e in t eres t r a t e ?

Solución

Rate : 8%

Pasos de solución

Translate the problem into an equation:

4800 = 30000 r \cdot 2

Resolver para

r, 4800 = 30000 r \cdot 2 : r = 8%

Rate : 8%

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