Question

The simple interest on a loans of $200 at 10 percent interest per year is

A. $10 per year until the loan is paid off
B. $15 per year until the loan is paid off
C. $20 per year until the loan is paid off
D. $25 per year until the loan is paid off

Answer 1

ANSWER: C THANK U

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Answer 2

Simple Interest on a Loans - Option C

The simple interest on loans of $200 at 10 percent interest per year is $20 per year until the loan is paid off. Interest per year means the expense of interest that is charged for annum as a percentage of the value which is hired.

In order to calculate interest per year, multiply the principal basis for the rent by the interest per year then divide the value of interest per year by 12 (number of months in a year). Therefore, for simple interest on loans of 200 dollars at 10 percent interest per year, we calculate 20 dollars per year until the loan is paid off.