Question

Find the simple interest on $6900 at 16 2/3% per year for 2 years

Answer 1

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Answer 2

Answer:

The Simple Interest is $2300.

Step-by-step explanation:

Principal=$6900

Rate=$\frac{50}{3}$% p.a.

Time=2 Years

S.I.=$\frac{PRT}{100}$

    = $\frac{6900 X 50 X 2}{100 X 3}$

    =$2300

∴ The Simple Interest is $2300.