# SOLUTION: Can someone help me on this problem? Ms. Jordan has been given a loan of \$2500 for 1 year. If the interest charged is \$275, what is the interest rate on the loan? Thanks

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 Question 54394: Can someone help me on this problem? Ms. Jordan has been given a loan of \$2500 for 1 year. If the interest charged is \$275, what is the interest rate on the loan? Thanks, SherAnswer by stanbon(57337)   (Show Source): You can put this solution on YOUR website!Ms. Jordan has been given a loan of \$2500 for 1 year. If the interest charged is \$275, what is the interest rate on the loan? ----------- Let the interest rate be "r" r(2500)=275 r=275/2500 r=0.11 or 11% Cheers, Stan H.