SOLUTION: If a R2500 investment grows to R2875 in 15months, what simple interest rate was earned?

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Question 1072795: If a R2500 investment grows to R2875 in 15months, what simple interest rate was earned?
Answer by jorel1380(3719) About Me  (Show Source):
You can put this solution on YOUR website!
2875/2500=1.15
.15/(15/12)=.15 x 12/15=.12 or 12% simple interest on the investment. ☺☺☺☺