Question

Diana invested $3000 in a saving account for 3 years. she earned $450 in interest over the time period. what interest rate did she earn? use the formula i=prt to find your answers, where i is the interest, p is the principal, r is the rate and t is the time.enter your solution in decimal form rounded to the nearest hundreds

Answer 1

Answer:

The rate of percentage is 5.00% .

Step-by-step explanation:

Formula

$Simple\ interest = \frac{Principle\times Rate\times Time}{100}$

As given

Diana invested $3000 in a saving account for 3 years.

she earned $450 in interest over the time period.

Principle  = $3000

Simple interest = $450

Time = 3 year

$450= \frac{3000\times Rate\times 3}{100}$

$\frac{450\times 100}{3000\times 3}= \frac{Rate}{100}$

$\frac{45000}{9000}= Rate$

Rate = 5%

Therefore the rate of percentage is 5.00% .

Answer 2

R=i/pt
R=450/3000*3
R=0.05*100=5%