Question

Find the interest on $6,000 at 5% for 8 months.

A: $200
B: $2,000
C: $240
D: $2,400

Answer 1

A.$200

Explanation:

I = PRT/ 100

P = $6000

R = 5%

T = 8 months = 8/12 = 2/3

I = (6000 × 5 × 2/3) /100

I = 20000 / 100

I = $200