Free Practice Question
PS · Problem Solving
705-805
percent
Peter invested a certain sum of money in a simple interest bond whose value grew to $300 at the end of 3 years and to $400 at the end of another 5 years. What was the rate of interest in which he invested his sum?
Answer Choices
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6.25%
B
6 2/3%
C
8 1/3%
D
12%
E
12.5%
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Explanation
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Difficulty
705-805
Type
PS
Category