If 1500 grows to 1950 after 5 years, find the simple interest rate
2 answers:
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Answer:
$189.43
Step-by-step explanation:
To find the original price, write a proportion. In your proportion, write one ration that has sale price over original price. The other ratio should be written with the corresponding percent values. Since the sale price is 65% off then you paid 35% of the regular the price. The proportion should be:
To solve cross multiply numerator and denominator of each fraction.
66.30(100) = x(35)
6630 = 35x
189.43 = x
This means the regular price is $189.43.