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3 years ago

1,100 invested for one year pays a return of 121$ what is the rate of return

Mathematics

1 answer:

earnstyle [38]3 years ago

4 0

Answer:

Rate: 11%

Step-by-step explanation:

Interest formula.

Interest = Principal * Rate * Time

121 = 1100 * r * 1

Simplify equation to equal 121/1100 = r

There the rate is equal to 121 divided by 1100 which is 0.11.

To get the percent multiply my 100.

There the rate is 11%.

Proof:

1100 * 11 percent is equal to $121.

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