Question

Find the interest due on $800 at 12% for 120 days

Answer 1

32.00

Explanation:

Answer 2

The simple interest after 120days at 12% is

$31.56

Explanation:

Step one :

We know that the simple interest formula is

SI=(P*r*t)/100

Where p= principal

r= rate

t= time

Given data

P=$800

r=12%

t=120days to years 0.3287

Substituting this value in the simple interest equation we have

SI={800*12*0.3287}/100

SI=9600*0.3287

SI=3156.1644/100

SI=$31.56