The correct answer is: $270
$2,070 = 115% of the original investment
|
Original investment |
= |
100 |
´ |
$2,070 |
|
115 |
|
|
= |
$1,800 |
|
Interest |
= |
$2,070 - $1,800 |
|
|
= |
$270 |
Option D is calculated (incorrectly) as follows.
|
x |
= |
0.15 ´ $2,070 |
|
|
= |
$310.50 |
Make sure that you always tackle this type of question by establishing what the original investment was first.
