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Q1 - Finding simple interest Find the simple interest on a loan of: £7500 borrowed for 6 years at a rate of 12% p.a. interest = £
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Q1 - Finding simple interest

Find the simple interest on a loan of:
£7500 borrowed for 6 years at a
rate of 12% p.a.
interest = £

User Jonathan Henson
by
8.1k points

1 Answer

7 votes

Answer:

£ 5400

Explanation:

P = £ 7500

r = 12% = 0.12

t = 6 years

Simple Interest = P*r*t

= 7500 * 0.12 * 6

= £ 5400

User Paul Mendoza
by
7.5k points
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