Answer: 4%
Step-by-step explanation:
The formula to calculate simple interest is given by :-
[tex]\text{I}=P\cdot r\cdot t[/tex], where P is the Principal amount, r is the rate of interest in decimal and t is the time.
Given: I = $30
P = $250
T = 3 years
Substitute the given values in the above formula , we get
[tex]30=250\cdot r\cdot 3\\\Rightarrow\ r=\frac{30}{250\times3}\\\Rightarrow\ r=0.04[/tex]
In percent, [tex]r=0.04\times100=4\%[/tex]
Hence, the annual interest = 4%.
