Question

After 9 months, the simple interest earned on an investment of $1200 is $72 Find the interest rate.

Answer 1

To solve this, we simply have to divide 72 by 1200.
We get 0.06, which can be turned into a percent by moving the decimals over two places to the right, and adding a percent sign!
Which gives us 6%. That's our interest rate.

Answer 2

Thank you!

Answer 3

No problem. Glad I could help.