Question

charis invested 140 she earned a simple interest of 3% per year on the initial investment if no money was added or removed from the investment what was the amount of interest charis received at the end of the two year

Answer 1

I= Prt
the principal or investment (p) is !40
the rate (r) is 3% in a decimal which is .03
time (t) is 2

140 x .03 x 2= 8.4

at the end of two year Charis earned $8.40 in interest.

Answer 2

8.40

Explanation:

Since, the simple interest is,

`I=(P* r* t)/(100)`

Where,

P = Principal,

r = rate per periods,

t = number of periods,

Here, P = 140, r = 3%, t = 2,

Thus, the simple interest would be,

`I=(140* 3* 2)/(100)`

`=(840)/(100)`

= 8.40