A bank deposit paying simple interest grew from an initial sum of $\$ 1000$ to a sum of $\$ 1075$ in 9 months. Find the interest rate.

Adi S.

Question

A bank deposit paying simple interest grew from an initial sum of $ 1000 to a sum of $ 1075 in 9

Adi S · Answer

From the question the solution is a is equal to p into 1 plus rt 1075 is equal to 1000 into 1 pl

Adi S · Answer

In this question, it is given that principal amount is $1 ,000 and it becomes total amount of $1

Christopher Dzorkpata · Answer

So this question is about simple interest. So let&#x27;s first look at the formula for finding simple

Jason Horton · Answer

All right, in your question, it says, in a nine -month term deposit at a bank, it earns simple i

Amy Jiang · Answer

Okay, so we have if 23 ,500 earned simple interest of the following. So we have i is equal to p

A bank deposit paying simple interest grew from an initial sum of $\$ 1000$ to a sum of $\$ 1075$ in 9 months. Find the interest rate.