What is the simple interest of a savings deposit for 1500 for 18 months at an interest rate of 6%

Question

asked Mar 27, 2022 8.3k views

1 Answer

Haythem Farhat · Answer 1 · 2022-03-31T13:03:46+0000

Explanation:

Principal=1500

Time=18months = 18×12=216

Interest=6%

now

SI=P×T×R÷100

SI=1500×216×6÷100

SI=1944000÷100

SI=19440 is the answer