Which of the following varies directly with the interest rate

Asked by admin @ 05/11/2021 in Mathematics viewed by 329 People

The interest on an investment varies directly as the rate of interest. If the interest is $41 when the interest rate is 4%, find the interest when the rate is 7%.

Answered by admin @ 05/11/2021

First, find what 41 is 4% of.
$\frac{4}{100} = \frac{41}{x}$
$4x = 4100$
$x = 1025$
Now find 7% of 1025.
$1025(.07) = 71.75$
The interest would be $71.75

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