If $900 is borrowed and the interest after 6 months is $36, what is the annual interest
rate for a simple interest loan?

Question

anonymous · Answer

do you not know the formula? it should be in your book, look for interest formula or rate

anonymous · Answer

8 % P. A.

anonymous · Answer

no i dont know how to set it up. can you tell me please

anonymous · Answer

This example problem will help you solve your problem, read it over, and if u have any ?'s let me know, http://math.about.com/od/businessmath/ss/Interest.htm

anonymous · Answer

remember 6 months is 1/2 year, not 6 years

anonymous · Answer

it is simple 
see ur return is (36/900)*100 = 4 % in half years
so, 1 year return is 2* 4 %  = 8%