Question

An $800 deposit for 24 months earned $200 in interest.

SIMPLE INTEREST

NEED RATE & TOTAL VALUE

Answer 1

Answer: X = 12.5%

Explanation:

Answer 2

x=12.5% (hope this right if not I am so sorry)

Answer Explanation:

let x%= annual interest rate

deposit = $800

interest earning period = 24 months = 24/12 years

interest earned = $200

so $200 = $800 * x /100* 24/12

200 = 800 * x/100 * 2

solve for x,

x = 12.5% per annum