Simple interest

Peter put into bank 853 euros deposit. After 7 years on account overall was 984 euro.

What was the interest rate if bank add simple interest?

Correct answer:

p =  2.2 %

Step-by-step explanation:

$$\begin{gathered} u=984-853=131\text{ Eur } \\ {u}_1=u\mathrm{/}7=131\mathrm{/}7={\displaystyle \frac{131}{7}}\doteq 18.7143\text{ Eur } \\ p=100\cdot {\displaystyle \frac{u_1}{853}}=100\cdot {\displaystyle \frac{18.7143}{853}}=2.2\mathrm{\%} \end{gathered}$$

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