Answered

Discover a world of knowledge at Westonci.ca, where experts and enthusiasts come together to answer your questions. Our Q&A platform offers a seamless experience for finding reliable answers from experts in various disciplines. Get detailed and accurate answers to your questions from a dedicated community of experts on our Q&A platform.

calculate the simple interest
on
1200 at 7% Per
annum for three years

Sagot :

Given:

Principal value = 1200

Rate of interest = 7% per annum

Time = 3 years

To find:

The simple interest for three years.

Solution:

The formula for simple interest is:

[tex]S.I.=\dfrac{P\times r\times t}{100}[/tex]

Where, P is the principal value, r is the rate of interest in percentage and t is time in years.

Putting [tex]P=1200,r=7,t=3[/tex] in the above formula, we get

[tex]S.I.=\dfrac{1200\times 7\times 3}{100}[/tex]

[tex]S.I.=12\times 7\times 3[/tex]

[tex]S.I.=252[/tex]

Therefore, the simple interest for three years is 252.

Thank you for visiting our platform. We hope you found the answers you were looking for. Come back anytime you need more information. We appreciate your visit. Our platform is always here to offer accurate and reliable answers. Return anytime. Stay curious and keep coming back to Westonci.ca for answers to all your burning questions.