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13 February, 02:28

1,100 invested for one year pays a return of 121$ what is the rate of return

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  1. 13 February, 04:40
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    Rate: 11%

    Step-by-step explanation:

    Interest formula.

    Interest = Principal * Rate * Time

    121 = 1100 * r * 1

    Simplify equation to equal 121/1100 = r

    There the rate is equal to 121 divided by 1100 which is 0.11.

    To get the percent multiply my 100.

    There the rate is 11%.

    Proof:

    1100 * 11 percent is equal to $121.
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