asd233
Answered

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%

Verified Answer :

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:
@@MATH_TOKEN_0@@
= @@MATH_TOKEN_1@@
= 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

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