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How much simple interest will be earned in 3 y on $2500 in an account that pays 1.5%

User Mekey Salaria
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1 Answer

8 votes
8 votes

we the information given in the question, we are to find Simple Interest.

firstly let's kno the formular for simple interest.

Simple Interest (SI) = PRT/100

Where P is the Principal

R is the rate

T is the time

P = $2500

R = 1.5

T = 3years

so substituting into the formular:

SI = 2500 x 1.5 x 3

100

SI = 2500 x 4.5

100

SI = 11250/100

SI = 112.5

Therefore, the interest that will earn is $112.5

User Pranjal Successena
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