Question

Using the formula for simple interest and the given values, find l P-S700; r= 6%; t = 3 years, I ?

Answer 1

The simple interest for a principal amount of S700, with an interest rate of 6% and a time period of 3 years, is S126.

Step-by-step explanation:

To find the simple interest (I) for a principal amount (P) of $S700, with an interest rate (r) of 6% and a time period (t) of 3 years, we can use the formula I = P * r * t / 100.

Substituting the values into the formula: I = S700 * 6 * 3 / 100 = S126.

Therefore, the simple interest is S126.