# Free GRE Practice Questions

Question 1 of 1
ID: GRE-NEQ-18
Section: Quantitative Reasoning - Numeric Entry
Topics: Word Problems; Simple and compound interest
Difficulty level: Easy

(Practice Mode: Single selected Question » Back to Overview)

A man purchased a sports kit which was priced at \$300. If there was an option to make a down payment of \$180 and \\$122 after a month, what was the effective annual rate of interest applicable on the instalment facility, assuming simple interest?