Question

600% is invested for one year if the yearly interest rate is 7.5% how much interest is earned in one year

Answer 1

[AI-generated answer — Bot GPT 3.5]

To calculate the interest earned in one year, we can use the formula:

Interest = Principal amount x Rate of interest

Given:
Principal amount = 600%
Rate of interest = 7.5%

First, we need to convert the percentage values to decimal form:
Principal amount = 600% = 600/100 = 6
Rate of interest = 7.5% = 7.5/100 = 0.075

Now, we can plug these values into the formula:

Interest = 6 x 0.075
Interest = 0.45

Therefore, the interest earned in one year is 0.45 or 45%.