Question

At an interest rate of 6%, calculate how much interest would the principal amount $12,000 earn over 2 years. [Simple Interest = p * r * t where p = principal amount, r = interest rate, t = time in years]

Answer 1

Answer:

1440

Step-by-step explanation:

Solution,

Given,

principal=12000

rate=6%

time= 2 years

interest=?

now ,

interest =( P×T×R)/100

= ( 12000×2×6)/100

= 1440

thus, interest is 1440