Question 76870
Use the formula for simple interest:
Interest = (Principle)(rate)(time)
.

Plug-in the values:
$165=(1500)(rate)(1 year)
165=1500(r)(1) [solve for rate (r)]
165=1500r
165/1500=1500r/1500
.11=r
.11 X 100% = 11% = rate
.
Use the rate of 11% for the second part of the problem:
I=Prt
Interest =($2500)(.11)(1year) [solve for interest (I)-
I=(2500)(.11)(1)
I=275.