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4 July, 07:06

Sebastian's parents agree to lend him two hundred dollars for some gaming equipment, as long as he pays them back two hundred fifty dollars in a year's time. What is the rate of simple annual interest in this arrangement?

five percent

twenty percent

twenty-five percent

fifty percent

+1
Answers (2)
  1. 4 July, 07:27
    0
    Twenty five percent interest rate
  2. 4 July, 08:03
    0
    25%

    250=200 (1+r)

    250/200 = 1+r

    5/4 - 1 = r

    r = 0.25 = 25%
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