Question

application of simple interest taking suitable example.​

Answer 1

Answer:

For example, assume you have a car loan for $20,000. Your interest rate is 4%. To find the simple interest, we multiply 20000 × 0.04 × 1 year. So, by using simple interest $20,000 at 4% for 5 years is ($20,000*0.04) = $800 in interest per year.

Explanation:

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Answer 2

Answer:

For example assume u have a car lone for $20,000.your interest rate is 4%.To fine the simple interest, we multiply 20000 ×0.04×1 year so, by using simple interest $20,000 at 4% for five years ($20,000*0.04) =$800 in interest per year.

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