joe invested a certain sum of money in a simple interest bond whose value grew to $ 460 at the end of 3 years and to $ 560 at the end of another 5 years . what was the rate of interest in which he invested his sum ?
"in 5 years , the value grew $ 100 , so the simple interest was $ 20 per year . in 3 years , the total interest was 3 * $ 20 = $ 60 the principal is $ 460 - $ 60 = 400 . the interest rate is $ 20 / $ 400 = 5 % the answer is c ."
multiply(divide(divide(subtract(560, 460), 5), subtract(460, multiply(divide(subtract(560, 460), 5), 3))), const_100)