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What is the simple interest rate if $51.67 in interest is earned on a deposit of $1377.53 in one year?

What is the simple interest rate if $51.67 in interest is earned on a deposit of $1377.53 in one year?
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1 vote
What is the simple interest rate if $51.67 in interest is earned on a deposit of $1377.53 in one year?

asked
User NotAnAmbiTurner
by
7.6k points

1 Answer

1 vote

Answer:

2666.01%

Explanation:

Intrest=(PA)*I*T

1377.53=51.67*I*1

I=26.6601=2666.01%

answered
User Ikreb
by
7.8k points
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