Question

In the situation, simple interest is calculated yearly. How much interest was earned? Drag and drop the answer into the box. Principal: $8000; Time: 4 years; Interest rate: 12%; Interest: ?

Answer 1

Answer: $3840

Explanation:

We know that the formula to calculate simple interest is given by :-

`S.I=Prt`

Given: Principal (P): $8000

Time (t): 4 years

Interest rate (r): 12% =0.12

Now, the simple interest earned is given by :-

`S.I=8000*0.12*4\\\\\Rightarrow\ S.I.=\$3840`

Hence, Simple interest was earned = $3840

Answer 2

The simple interest be $3840 .

Explanation:

Formula

`Simple\ interest = (Principle* time* rate)/(100)`

As

Principal = $8000

Time = 4 years

Interest rate =12%

Put value in the above formula

`Simple\ interest = (8000* 4* 12)/(100)`

`Simple\ interest = (384000)/(100)`

Simple interest = $3840

Therefore the simple interest be $3840 .