Question

Find the simple interest on a P10500 loan at 20% for two years. (show

your process to get two points)
DO
D12
Dan​

Answer 1

P4200

Explanation:

SI=PRT/100

P=Principal which is P10500

R=Rate which is 20%

T=Time which is 2 years

So SI= 10500×20×2/100

=P4200