Question 298607
sam has a savings account that increased in value over a twelve month period from $8765.00 to $9006.04. He made no deposits or withdrawls during this time. What percent interest did he receive for the twelve month period?

9006.04 - 8765 is the interest.

=241.04

 on 8765 the interest is 241.04

for 100 it will be = 100*241.04 / 8765

= 2.75 %