1 Answer

Saksham Varma · Answer 1 · 2023-09-11T10:05:54+0000

Remember that we can calculate the sinmple interest earned in an investment or saving using the formula:

$I=(P\cdot R\cdot T)/(100)$

Where:

P is the money invested/saved

R is the rate of interest

T is the time of the investment/deposit in years

Using this formula and the data given, we get:

$I=(2380\cdot3\cdot4)/(100)\Rightarrow I=285.60$

Therefore, the interest earned is $285.60

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