The interest rate on $2000 for 2 years is $350. what is the simple interest rate ?

8.75%

Step-by-step explanation:

The formula for calculating simple interest (I) is

I =

where P is the principal, R the rate of interest and T the time in years

here I = 350, P = 2000 and T = 2, hence

350 =

multiply both sides by 100

35000 = 4000R ( divide both sides by 4000 )

R = 8.75%

36/60

36/2=18

60/2=30

18/30

18/3=6

30/3=10

6/10

6/2=3

10/2=5

your final answer would be 3/5 of an

hope this !