Question

An investment of $1,800 in the stock market

eamed $378 in two years. Find the simple
interest rate..

Answer 1

The simple interest formula is I =PrT

Here I = 378, P = 1800, T = 2

substitute

378 =1800*r*2

r = 378/3600 = .105, i.e. 10.5%

Explanation:

Explanation: