Question

Barbara deposited $1500 into an account that earns 6% simple interest each year. How much interest will she earn in 5 years?

Answer 1

GIVEN , PRINCIPAL=$1500 RATE OF INTREST=6% TIME=5 YEARS

SIMPLE INTREST = P X R X T/100
                              =   1500 X 6 X 5/100 
                              =$450

Answer 2

P = $1500;    R = 6%     T = 5 yrs

SI = $\frac{PTR}{100}$

= $\frac{1500×5×6}{100}$

= $450
Interest = $450