Question

i invested $8,000 in contrapolar power systems stock, and 95 days later i sold it for $5,243. what simple interest rate was this equivalent to earning?

Explanation:

Step1: Calculate total loss

$\text{Loss} = 8000 - 5243 = 2757$

Step2: Define simple interest formula

$I = P \times r \times t$, rearranged to $r = \frac{I}{P \times t}$

Step3: Set time in years

$t = \frac{95}{365}$

Step4: Substitute values to find rate

$r = \frac{-2757}{8000 \times \frac{95}{365}} = \frac{-2757 \times 365}{8000 \times 95}$
$r = \frac{-1,006,305}{760,000} \approx -1.3241$

Step5: Convert to percentage

$r = -1.3241 \times 100 = -132.41\%$
(Note: Slight variation from the given input due to rounding precision)

Answer:

$\approx -132.41\%$