Question

Find the simple interest on a $600 loan at a rate of 9% for 1 year.

Answer 1

Given:-

• 
  `\rm Principal = \bold { 600}`
• 
  `\rm \: Time = \bold{ 1 year}`
• 
  `\rm \: Interest \: rate = \bold 9\%`

`\:`

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 = (600 * 1 * 9)/(100) }`

`\:`

• 
  `\rm{SI = \frac{6 \cancel{00} * 1 * 9}{1 \cancel{00}} }`

`\:`

• 
  `\rm{SI = (6 * 1* 9)/(1) }`

`\:`

• 
  `\underline{ \boxed{ \rm \bold{{ \green{SI =54}}}}}`

`\:`

hope it helps!:)