ECONOMICS
COMPOUND INTEREST
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Find the simple interest:Principal:$6, 000Interest Rate:5%Time:6 months
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$150
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$1, 800
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$1, 500
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$15, 000
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Explanation:
Detailed explanation-1: -=125. Rs. Was this answer helpful?
Detailed explanation-2: -To calculate simple interest, multiply the principal amount by the interest rate and the time. The formula written out is “Simple Interest = Principal x Interest Rate x Time.” This equation is the simplest way of calculating interest.
Detailed explanation-3: -Simple interest is calculated with the following formula: S.I. = P × R × T, where P = Principal, R = Rate of Interest in % per annum, and T = Time, usually calculated as the number of years. The rate of interest is in percentage r% and is to be written as r/100.
Detailed explanation-4: -Hence, the Simple interest will be Rs. 125 and amount will be Rs. 6375.
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