Question

The principal P is borrowed at a simple interest rater for a period of time t. Find the simple interest owed for the use

P - $830, r-3%, t - 2 years

Answer 1

Interest=$49.8

Explanation:

The formula is PRT/100

P=principal

R=rate

T=time

Input the given values

830×3×2/100

4980/100

49.8

Therefore the interest is $49.8