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Find the simple interest on a loan of 23,000 at 5.4% interest for 11 months
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4 votes
Find the simple interest on a loan of 23,000 at 5.4% interest for 11 months

User Ronit Roy
by
7.4k points

1 Answer

4 votes

Answer:

Simple interest=1138.5

Explanation:

Simple interest=23000×(5.4/100)×(11/12)

S.I=23000×0.054×(11/12)

S.I=1138.5

User Steven Grant
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7.3k points
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