Question

An account earns simple interest. Find the missing value.

Interest Earned: $45
Principal: ?
Interest rate: 3%
Time: 2 years.​

Answer 1

2.7

Explanation:

SI = (P*T*R)/100

P = 45$

R = 3 percent

T = 2 years

Now,

SI = (P*T*R)/100

= (45*2*3)/100

= 2.7$