Calculate the simple interest earned as a amount R1400 at an annual interest rate 6.5% over 3 years?

Question

asked Dec 4, 2023 90.7k views

1 Answer

Ziaur Rahman · Answer 1 · 2023-12-08T18:38:42+0000

Answer:

principle (p)=Rs1400

Rate(R)=6.5

time(T)=3

we know that

I=P×I×T/100

=1400×6.5×3/100

=273

therefore the simple interest earned is Rs273