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After 2 years, $600 deposited in a savings account with simple interest had earned $120 in interest. What was the interest rate?

After 2 years, $600 deposited in a savings account with simple interest had earned $120 in interest. What was the interest rate?
asked 76.2k views
5 votes
After 2 years, $600 deposited in a savings account with simple interest had earned $120 in interest. What was the interest rate?

asked
User Malith
by
7.4k points

1 Answer

4 votes

Answer:

300%

Explanation:

600 / 120 = 300

answered
User Redrah
by
8.5k points
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