Question

Mason invests money in an account paying simple interest. He invests $70 and no money is added or removed from the investment. After one year, he has $73.50. What is the simple percent interest per year?

Answer 1

answer: 5%

explanation: subtract the principal from the total amount, then divide the difference by the principal

>> 73.50 - 70 = 3.50

3.50 / 70 = 0.05

0.05 x 100 = 5%