Answer:
2400
Explanation:
Find the accumulated amount of an account if the principal amount was 5000 at 16% interest at the end of 3 years
Solution
The formula for simple interest
S.I = P *R* T/100
Where P = Principal = 5000
R = Rate = 16%
T = Time = 3 years
5000 * 16 * 3/100
50 * 16 * 3
= 2400.