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attashe74 [19]
3 years ago
14

If the simple interest on ​$2000 for 3 years is ​$​300, then what is the interest​ rate?

Mathematics
1 answer:
ivann1987 [24]3 years ago
6 0

~~~~~~ \textit{Simple Interest Earned} \\\\ I = Prt\qquad \begin{cases} I=\textit{interest earned}\dotfill &\$300\\ P=\textit{original amount deposited}\dotfill & \$2000\\ r=rate\to r\%\to \frac{r}{100}\\ t=years\dotfill &3 \end{cases} \\\\\\ 300=(2000)(r)(3)\implies 300=6000r\implies \cfrac{300}{6000}=r \\\\\\ \cfrac{1}{20}=r\implies 0.05=r\implies \stackrel{\textit{converting to percent}}{100\cdot 0.05}\implies \stackrel{\%}{5}=r

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Answer: 8 feet

Step-by-step explanation:

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5 * 5 = 25

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  • For the second fraction, \frac{14}{15}, you need to multiply both parameters by 2, similar to before, but we now must use a different number, otherwise, the denominators will not be the same.

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25~and~30 -- > \frac{25}{30}

28~and~30-- > \frac{28}{30}

________________________________________________________

Finally, the problem is solved. Now that the problem is solved, we review what we just learned <em>not through more problems, though.</em>

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<h3>What have we learned?</h3>

We learned how to efficiently make fractions' deominators match.

Questions related to this topic? Ask me in the comments box, please!

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