Question

Find the simple interest. Principal ​$2300 rate 20​% time 27 months The interest is ​$ ?

Answer 1

`\bf \qquad \textit{Simple Interest Earned}\\\\ I = Prt\qquad \begin{cases} I=\textit{interest earned}\\ P=\textit{original amount deposited}\to& \$2300\\ r=rate\to 20\%\to (20)/(100)\to &0.20\\ t=years\to (27)/(12)\to &(9)/(4) \end{cases} \\\\\\ I=2300\cdot 0.2\cdot \cfrac{9}{4}`