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2900 loan for 5 months at 8.95% simple interest
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2 votes
2900 loan for 5 months at 8.95% simple interest

User Arnorhs
by
7.3k points

1 Answer

5 votes

Answer:

108.1458

Explanation:

Simple interest=(2900×5×8.95)/100×12

=2900×5×895/120000

=29×5×895/1200

=129775/1200

=108.1458

So the simple interest is 108.1458

User Shya
by
7.4k points
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