Question

Your friend tells you that if you let him keep 5050 of your Pokemon cards for a month, he will give you 11 card extra when he returns your cards.
What is the annual rate of interest he is willing to pay for the borrowed cards?

Answer 1

Answer: 22 %

Step-by-step explanation:

Initial number of cards = 50,

The interest ( in cards ) after 1 years, A = 11,

Let the rate of interest = r %

Time, t = 1 years,

$\frac{P\times r\times t}{100}=A$

$\implies \frac{50\times r\times 1}{100}=11$

$\implies 50 r = 1100$

$r=22\%$

Hence, the annual rate of interest he is willing to pay for the borrowed cards = 22%

Answer 2

Answer:

It's 24. I've done it on Khan academy. 24 is the answer. :D

Step-by-step explanation: