The simple interest on 400 invested for 4 month was 12.what is the yearly rate of interest

Question

asked Jan 26, 2022 28.2k views

1 Answer

Arslan · Answer 1 · 2022-02-02T06:15:14+0000

Answer:

9%

Explanation:

If you get 12 for 4 months, then you get 36 for the year/12 months

Annual interest is $12 x 3 Months =36

36/400=9%.