Question

What would be the simple interest on an amount of $500 at 2% interest?

$20
$1
$10
$5

Answer 1

$10

Change the 2% to decimal form (.02) then multiple 500 x 0.02 and you get $10

Answer 2

$10

Explanation:

change 2% into a decimal so now its 0.02

multiply 500 by 0.02 to get 10