[tex]\bf ~~~~~~ \textit{Simple Interest Earned}\\\\
I = Prt\qquad
\begin{cases}
I=\textit{interest earned}\to &\$96\\
P=\textit{original amount deposited}\to& \$800\\
r=rate\to r\%\to \frac{r}{100}\\
t=years\to &\stackrel{each~year}{1}
\end{cases}
\\\\\\
96=800(r)(1)\implies \cfrac{96}{800}=r
\\\\\\
0.12=r\implies r\%=100\cdot 0.12\implies r=\stackrel{\%}{12}[/tex]
