Respuesta :
[tex]\bf \qquad \textit{Simple Interest Earned}\\\\
I = Prt\qquad
\begin{cases}
I=\textit{interest earned}\to &\$15\\
P=\textit{original amount deposited}\to& \$150\\
r=rate\to r\%\to \frac{r}{100}\\
t=years\to &2
\end{cases}
\\\\\\
15=150\cdot r\cdot 2\implies \cfrac{15}{150\cdot 2}=r\implies \cfrac{1}{10}=r
\\\\\\
r\cdot 100\implies \stackrel{\%}{10}[/tex]
Answer:
The simple annual interest rate is 5 %.
Step-by-step explanation:
Simple interest formula is,
[tex]I=\frac{P\times r\times t}{100}[/tex]
Where, P is the principal amount,
r is the rate per period,
t is the number of periods,
Here, P = $ 150,
I = $ 15,
t = 2 years,
By substituting the values,
[tex]15=\frac{150\times r\times 2}{100}[/tex]
[tex]15=\frac{300r}{100}[/tex]
[tex]15=3r[/tex]
[tex]\implies r = 5\%[/tex]
Hence, the simple annual interest rate is 5 %.
