Question

1) Find the simple interest on GH¢400.00 at a rate of 5% per annum for 2 years.

2) Find the simple interest on GH¢6,000.00 at a rate of 12% per annum for 2 years.
3) Find the simple interest on GH¢500.00 at a rate of 3% per annum for 5 years.
4) Find the simple interest on GH$2,000.00 at a rate of 5% per annum for 4 years.
5) Find the simple interest on GH¢ 1,200.00 at a rate of 2%
dqper annum for 5 years.​

Answer 1

Explanation:

1. 5/100*400*2=40

2. 12/100*6000*2=1440

3. 3/100*500*5=75

4. 5/100*2000*4=400

5. 2/100*1200*5=120