A deposit of 10000.00 was made to an account the year you were born After 12 years the account had earned 6600.00 in interest What simple interest rate did the account earn?

Deposited amount (P) = 10000

Rate of Interest (R) = ?

No. of Years (N) = 12

Interest Earned Formula = P * N * R / 100

Modifying the formula we get:

R = Interest Earned * 100 / P * N

= (6600 * 100) / (10000 * 12)

= 660000/120000

= 5.5%

They earned an interest of 5.5% per year for 12 years.