Question

Given that simple interest is given by the formula I = prt, what is the value of I if p = 500, r = 1 20 , and t = 4?

Answer 1

240000

Explanation:

I = prt

or, I=500 x 120 x 4=240000

Answer 2

100

Explanation:

100

Substitute the value of the variables into the formula and solve.

I = prt

I = (500)(

1

20

)(4)

I = (25)(4)

I = 100