Question

Calculate the Simple Interest on $12000 for 15 years at 12 1/2% per annum

Answer 1

$22500

Explanation:

principal=$12000

time=15 years

rate=
`12(1)/(2)`

=12*2+1/2

=25/2

=12.5

Interest=PTR/100

=$12000*15*12.5/100

=$2250000/100

=$22500