Maria Invests $600 in a bank account that earns simple interest. She earns $30 at the end of 12 months . Janae invest $350 at th
e same rate of interest for 12 months
1 answer:
Answer:
Interest = $1.75
Step-by-step explanation:
Maria invest $600, and receives interest of $30 per year
We know that PRT/100= INTEREST
R=( 100*INTEREST)/(PT)
R = (100*30)/(600*1)
R= 3000/600
R= 5%
Jane invest $350 at Sam rate with Maria , that is 5% , for a year, her interest
Interest= 350*5*1/100
Interest = $1.75
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