The interest rate to the nearest tenth is 36.3%
The simple interest rate is the rate that the investment grew by in those six months.
It can be found by the formula:
Simple interest rate = Interest earned / Investment
Solving will give:
= 907 / 5,000
= 18.14%
This is the interest rate after 6 months but the annual one is needed:
= Six months rate x 2
= 18.14 x 2
= 36.3%
In conclusion, the investment grew by 36.3%
Note: nearest tenth means one number after the decimal point.
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