9514 1404 393
Answer:
4%
Step-by-step explanation:
The amount of simple interest is given by ...
I = Prt . . . . . amount P invested at annual rate r for t years
This can be solved for r:
r = I/(Pt)
Using the given values, we find the rate to be ...
r = 16/(200·2) = 16/400 = 4/100 = 4%
The annual interest rate is 4%.
