141k views
3 votes
if the principal is $200 and the interest rate is 4 percent, what is the simple interest earned in one year?

User Lmcanavals
by
7.3k points

2 Answers

3 votes
Simple interest = [PTR]/100
where P is the principle, T is time and R is rate

Simple interest earned
= [(200)(1)(4)]/100
= $8
User Mark Wragg
by
8.5k points
5 votes
Principal = 200
interest rate = 4% per annum
term = 1 year

Simple Interest = Principal * interest rate * term
S.I. = 200 * 4% * 1
S.I = 8

Simple interest is $8
User Aaron Voelker
by
8.9k points

No related questions found

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.4m questions

12.2m answers

Categories