Question

Find the simple interest for principal $9000 rate 11% and time 1 years

Calculate the simple interest for the provided values.
a) $990
b) $1100
c) $1000
d) $8910

Answer 1

To calculate the simple interest, use the formula: Interest = Principal × Rate × Time. For the given values of principal $9000, rate 11%, and time 1 year, the simple interest is $990.

Step-by-step explanation:

To calculate the simple interest, we use the formula: Interest = Principal × Rate × Time.

Given:

• Principal = $9000
• Rate = 11%
• Time = 1 year

Using the given values in the formula, we get:

Interest = $9000 × 0.11 × 1 = $990

Therefore, the simple interest for these values is $990, so the correct answer is (a) $990.