Question 1182562
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<pre>

You write equation for the simple interest  I = Prt  as you read the problem


    40 = 1483*r*(76/360),


where "r" is the unknown rate.  From the equation


    r = {{{(40*360)/(1483*76)}}} = 0.1278   (rounded).


So, the annual simple interest rate is  12.78%.     <U>ANSWER</U>
</pre>

Solved.


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To see many other similar &nbsp;(and different) &nbsp;solved problems on simple interest accounts, &nbsp;look into the lesson

&nbsp;&nbsp;&nbsp;&nbsp;- <A HREF=https://www.algebra.com/algebra/homework/percentage/lessons/Simple-interest-percentage-problems.lesson>Simple interest percentage problems</A> 

in this site.



Learn the subject from there.