The simple interest on an investment of $2000 for one year is $110.

What is the interest rate?

A. 0.0055%
B. 0.055%
C. 0.55%
D. 5.5%

You're looking to find how much of 2000 $110 is. What percent of 2000 is 110?
110 parts out of 2000 parts can also be written in a fraction: 2000 110 ​ = 200 11 ​ = 0.055
To get a percent from a decimal, you multiply by 100: 0.055 * 100 = 5.5%
So, $110 is 5.5% of the initial $2000. Hope this helps! :)

Answered by kittymaniac | 2024-06-10

Simple interest: I=Prt 110=2000(r)(1) 110=2000r r= 0.055= 5.5% D

Answered by MichaelLiu | 2024-06-10

The interest rate for an investment of $2000 that earned $110 in interest over one year is 5.5%. This can be calculated using the formula for simple interest. The answer corresponds to option D: 5.5%.
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Answered by kittymaniac | 2024-11-01