Question

Find the simple interest when $500 is invested at 6% for 3 years.

Answer 1

Given:-

• 
  `\rm Principal = \bold { 500}`
• 
  `\rm \: Time = \bold{ 3 year}`
• 
  `\rm \: Interest \: rate = \bold 6 \%`

`\:`

To find:-

• 
  `\rm{simple \: interest = \bold {?}}`

`\:`

By using formula:-

• 
  `\pmb{\boxed{ \rm{Simple \: interest = \bold { (Principal × Time × Rate)/(100) }}}}`

`\:`

Solution:-

• 
  `\rm{SI = (PTR)/(100) }`

`\:`

• 
  `\rm{SI = (500 * 3 * 6)/(100) }`

`\:`

• 
  `\rm{SI = \frac{5 \cancel{00} * 3 * 6}{1 \cancel{00}} }`

`\:`

• 
  `\rm{SI = (5 * 3 * 6)/(1) }`

`\:`

• 
  `\underline{ \boxed{ \rm \bold{{ \red{SI =90}}}}}`

`\:`

hope it helps!:)