Question

Question: 1 of 37: Alice earned $622.50 in interest on her savings in the bank. Before interest, the account had $12,450. What is the approximate percent she earned in interest?
3%
5%
7%
10%

Answer 1

Alice had original amount = $12,450. She earned an interest of $622.50 on the original amount. To find the percent, say, $622.50 = x% of $12,450, we get x% = 0.05 or x = 5%. Thus, Alice earned approximately 5% of the interest.