Question

2. 1. Calculate the interest if the principal is $300, the interest rate is 7% and the time is 2 years.

Answer 1

$42

Explanation:

Given

Principal (P) = $300

rate of interest (R) = 7%

Time (7T) = 2 years

Interest (I) = ?

We know

I = PTR / 100

= 300 * 7 * 2 / 100

= $ 42

Hope it will help :)❤