Simple interest = $769 Principal = $6000 Rate = ? Time = 10 months (must convert to years if in months) = 10/12 = 0.833 Formula I = prt Substitute 769 = 6000 × r × 0.833 769 = 4998r Divide both sides by 4998 769/4998 = 4998r/4998 0.15386 = r (to the nearest tenth of a percent) = 0.15 Therefore, your rate is 0.15%.
