Shane deposited $200 into an account and earned $36 in interest after 3 years. use the formula i = prt, where i represents simple interest, p represents principal, r represents interest rate, and t represents time in years. what is the interest rate?

  The interest rate = 6 %

Explanation:

We have  I = prt, where I represents simple interest, p represents principal, r represents interest rate, and t represents time in years.

 Here principal, p = 200 $

          Number of years , t = 3

        Interest received, I = 36$

       We need to find rate of interest.

Substituting

       36 = 200 x r x 3

      r = = 0.06 = 6%

  The interest rate = 6 %

in problems involving proportions, we can use cross products to test whether two ratios are equal and form a proportion. to find the cross products of a proportion, we multiply the outer terms, called the extremes, and the middle terms, called the means.

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