Question

The R9000 invested at 8%p.a simple interest for 3years show all the steps​

Answer 1

To calculate the interest earned on the R9000 invested at 8%p.a simple interest for 3 years, you'll need to use the formula I = Prt.

I = Interest earned

P = Principal amount (R9000)

r = Rate of interest (8% = 0.08)

t = Time (3 years)

Plugging in the values, we get: I = 9000 x 0.08 x 3 = R2160.

Therefore, the interest earned on the R9000 invested at 8%p.a simple interest for 3 years is R2160.