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A bank deposit paying simple interest grew from an initial amount of $1300 to $1365 in 3 months. Find the interest rate. %/year

A bank deposit paying simple interest grew from an initial amount of $1300 to $1365 in 3 months. Find the interest rate. %/year
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A bank deposit paying simple interest grew from an initial amount of $1300 to $1365 in 3 months. Find the interest rate.

%/year

asked
User Abhik Sarkar
by
8.4k points

1 Answer

1 vote

Answer:

the interest rate. : 5%

[(1365-1300)/1300]*100 = 5%

Explanation:

answered
User Udi Cohen
by
8.3k points
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