The annual interest rate is 3.5%.
Solution:
Given Interest (I) = $26.25
Principal (P) = $500
Time (t) = 18 months
Rate of interest (r) = ?
Time must be in years to find the rate per annum.
1 year = 12 months
Divide the time by 12.
Time (t) =
years
Now, find the rate of interest using simple interest formula.
<u>Simple interest formula:</u>






⇒ r = 3.5%
Hence the annual interest rate is 3.5%.
8) 5 + 4 + 2 = 11
Since there are 5 guavas, the correct answer is B. 5/11
9) 3 + 4 = 7
Since there are 4 blue papers, the correct answer is A. 4/7
10) Count all of the numbers and add them. There are 4 twos, 2 fives, and 1 three:
4 + 2 + 1 = 7
Since there are 4 twos, the correct answer is C. 4/7