Answer:
Ed and Sheerie save 7.5%.
Step-by-step explanation:
This question can be solved using a rule of three.
Ed and Sherrie save $90 each pay period from their combined paychecks, which total $1200. What percent do Ed and Sherrie save?
How much of $1200 is $90? $1200 is 100% = 1, $90 = x. So
$1200 - 1
$90 - x
Ed and Sheerie save 7.5%.
Answer:
The required rate of interest = 14.285%
Step-by-step explanation:
Here, The principal amount = 7,000
The final paid amount = 9,000
Time = 2 years
Let us assume the rate of interest = R
Now, Simple Interest = Amount - Principal
= 9,000 - 7,000 = 2,000
So, the SI on the given principal for 2 years = 2,000
or, R = 14.285%
Hence, the required rate of interest = 14.285%