The annual interest rate earned by an investment increased by 10 percent from last year to this year. If the annual interest rate earned by the investment this year was 11 percent, what was the annual interest rate last year?  Choose the correct choice from the following choices:	A) 1%	B) 1.1%	C) 9.1%	D) 10%	E) 10.8%
Let us suppose the interest rate last year is X, This year the interest rate is increased by 10%. Hence this year interest rate would be 1.1*X.   Setting up the equation -----&gt; 11=1.1*x   X=10%   ANSWER:10%
<result>D</result>
The annual interest rate earned by an investment increased by 10 percent from last year to this year. If the annual interest rate earned by the investment this year was 11 percent, what was the annual interest rate last year?