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Solve the Variation Problem

Question 197

Multiple Choice

Solve the variation problem.
-The amount of simple interest earned on an investment over a fixed amount of time is jointly proportional to the principle invested and the interest rate. A principle investment of $1400.00 with an interest rate of 2% earned $140.00 in simple interest. Find the amount of simple interest earned if the principle is $3500.00 and the interest rate is 7%.


A) $490.00
B) $350.00
C) $122,500.00
D) $1225.00

Correct Answer:

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