Question

If the simple interest on ​3000 for 2 years is ​$360​, then what is the interest​ rate?

Answer 1

The interest rate is 6% 360/300 = .12 for 2 years get rid of half of that .06

Answer 2

If its $360 in 2 yrs, then it would be $180 in 1 yr, which $180 is 6% of $3000