Question

julio invested 2000 dollars in a simple interest account for 3 years she had earned 150 in interest by then end .what was simple interest rate of account

Answer 1

$\bf ~~~~~~ \textit{Simple Interest Earned}\\\\ I = Prt\qquad \begin{cases} I=\textit{interest earned}\to &\ 150\\ P=\textit{original amount deposited}\to& \ 2000\\ r=rate\to r\%\to \frac{r}{100}\\ t=years\to &3 \end{cases} \\\\\\ 150=2000\cdot r\cdot 3\implies \cfrac{150}{2000\cdot 3}=r\implies 0.025=r \\\\\\ r\%=0.025\cdot 100\implies r=\stackrel{\%}{2.5}$