Question

I = PRT/100

where
I = simple interest
P = the amount of money invested
R = the interest rate
T = the period of time the money is invested for.
Carla invests £500 for 3 years at a rate of 5%.
How much simple interest does Carla earn?​

Answer 1

75

Explanation:

I = PRT/100

Substitute the values

in

I = 500 * 5 * 3 /100

I = 75