Question

Mr ramos invest $500 at a simple interest rate of 6%. How much interest will he earn in one year

Answer 1

=30

Explanation:

principal*rate*time

Principal:$500

Rate:6% =6/100

Time:1 year

$500*6/100*1=

$30

Answer 2

Answer: $30

Explanation:

Simple Interest = P × R × T / 100

where p= principal R= rate and

T = time

P= $500

R=6

T= 1

Simple Interest = $500×6×1 / 100

=$3000 / 100

=$30