What rate of interest did you receive over a period of 90 days if your principal was $5000 and it has a maturity value of $6000?
A) 81.11%
B) 8.11%
C) 0.811%
D) 0.0811%
E) 811.11%

Name: What rate of interest did you receive over a period of 90 days if your principal was $5000 and it has a maturity value of $6000? A) 81.11% B) 8.11% C) 0.811% D) 0.0811% E) 811.11%
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Question

Quizplus · Accepted Answer

The interest earned is $1000 ($6000 - $5000). The rate of interest for 90 days is ($1000/$5000) * (365/90) * 100 = 81.11%.

What Rate of Interest Did You Receive Over a Period