asd233
Answered

Westonci.ca is the premier destination for reliable answers to your questions, brought to you by a community of experts. Get quick and reliable solutions to your questions from a community of seasoned experts on our user-friendly platform. Get detailed and accurate answers to your questions from a dedicated community of experts on our Q&A platform.

he simple interest on an investment of $2000 for one year is $110.

What is the interest rate?



A.
0.0055%


B.
0.055%


C.
0.55%


D.
5.5%

Sagot :

kittymaniac
You're looking to find how much of 2000 $110 is. What percent of 2000 is 110?

110 parts out of 2000 parts can also be written in a fraction:
[tex]\frac{110}{2000}[/tex]
= [tex]\frac{11}{200}[/tex]
= 0.055

To get a percent from a decimal, you multiply by 100:
0.055 * 100 = 5.5%

So, $110 is 5.5% of the initial $2000. Hope this helps! :)
MichaelLiu
Simple interest: I=Prt
110=2000(r)(1)
110=2000r
r= 0.055= 5.5% 
D
Thank you for your visit. We are dedicated to helping you find the information you need, whenever you need it. We hope you found this helpful. Feel free to come back anytime for more accurate answers and updated information. We're here to help at Westonci.ca. Keep visiting for the best answers to your questions.