Simple Interest = Principle * Rate * Time
In your case:
$241.50 = $1,050.00 * Rate * 4
Solve for the Rate.
Hello we are having a tuff time assisting with this problem and showing the work how we get the answer. Any help
Savings Account Mallik deposited $1,050 in a savings account, and it earned $241.50 in simple interest after four years. Find the interest rate on Malik's savings account
Also if you know any sites that help with understanding Simple Interest please share