Question

Maria Invests $600 in a bank account that earns simple interest. She earns $30 at the end of 12 months . Janae invest $350 at the same rate of interest for 12 months​

Answer 1

Interest = $1.75

Explanation:

Maria invest $600, and receives interest of $30 per year

We know that PRT/100= INTEREST

R=( 100*INTEREST)/(PT)

R = (100*30)/(600*1)

R= 3000/600

R= 5%

Jane invest $350 at Sam rate with Maria , that is 5% , for a year, her interest

Interest= 350*5*1/100

Interest = $1.75