Question

Find the value I in a formula P=IRT P=200 R=9% T=4 years

Answer 1

The simple interest earned is $ 72

Solution:

The formula for simple interest is given as:

I = PRT

Where,

I is the simple interest

P is the principal

R is the rate of interest

T is the number of years

From given,

P = 200

R = 9 % = 0.09

T = 4 years

Substituting the values we get,

`I = 200 * 0.09 * 4\\\\I = 200 * 0.36\\\\I = 72`

Thus simple interest earned is $ 72