Formula of simple interest rate:
[tex]S\mathrm{}I=\frac{P\times R\times T}{100}[/tex]Where,
[tex]\begin{gathered} P=\text{ Principal} \\ R=\text{ Rate} \\ T=\text{ Time} \end{gathered}[/tex]For Monica interest rate is:
[tex]\begin{gathered} S\mathrm{}I\mathrm{}=\frac{200\times4.4\times1}{100} \\ =8.8 \end{gathered}[/tex]For Paul interest rate is:
[tex]\begin{gathered} S\mathrm{}I\mathrm{}=\frac{300\times3.3\times1}{100} \\ =3\times3.3 \\ =9.9 \end{gathered}[/tex]No, Paul interest rate higher then Monic.
