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Alice earned interest of $120 from my investment of $1000 for two years what is the rate of simple interest per year?

Alice earned interest of $120 from my investment of $1000 for two years what is the rate of simple interest per year?
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4 votes
Alice earned interest of $120 from my investment of $1000 for two years what is the rate of simple interest per year?

asked
User Prabhat Gundepalli
by
8.5k points

1 Answer

4 votes

Answer:

The rate of interest was 6%.

Explanation:

answered
User Gnadelwartz
by
8.9k points
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