Calculate the simple interest earned as a amount R1400 at an annual interest rate 6.5% over 3 years?

Xszym asked Sep 14, 2023

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Xszym asked Sep 14, 2023

by Xszym

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16 votes

Answer:

principle (p)=Rs1400

Rate(R)=6.5

time(T)=3

we know that

I=P×I×T/100

=1400×6.5×3/100

=273

therefore the simple interest earned is Rs273

Dieter answered Sep 18, 2023

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