Question

Math Example Question:-

Assume that you have a car loan for $20,000. Your interest rate is 4%. your time is 6 years. To find the simple interest?

Question:-
How can we find Simple Intrest?
_____________________________
Please Answer Both Questions
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Explain every step

Answer 1

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GIVEN THAT:-

$&#10144$ I have a car loan for $20,000. My interest rate is 4% and time is 6 years.

FORMULA:-

$&#10141 \: \: S.I = \frac{p \times r \times t}{100}$

where,

S.I = simple interest

p = principal amount

r = rate

t = time

SOLUTION:-

$&#10144$ Given p = $20,000, r = 4, t = 6

$&#10230 \: \: S.I = \frac{200\cancel{00} \times 4 \times 6}{\cancel{100}} \\ \\ &#10230 \: \: S.I = 200 \times 4 \times 6 \: \: \: \: \: \: \\ \\ &#10230 \: \: S.I = 4800 \: \: \: \: \: \: \: \: \: \: \: \: \: \: \: \: \: \:$

• simple interest = $4800

Thanks

Answer 2

Answer:

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Step-by-step explanation:

GIVEN THAT:-

➠➠ I have a car loan for $20,000. My interest rate is 4% and time is 6 years.

FORMULA:-

$s.i = \frac{p \times r \times t}{100} </u></strong></p><p></p><p></p><p></p><p></p><p></p><p><strong><u>where,</u></strong></p><p></p><p><strong><u>where,S.I = simple interest</u></strong></p><p></p><p><strong><u>where,S.I = simple interestp = principal amount</u></strong></p><p></p><p><strong><u>where,S.I = simple interestp = principal amountr = rate</u></strong></p><p></p><p><strong><u>where,S.I = simple interestp = principal amountr = ratet = time</u></strong></p><p></p><p></p><h2><strong><u>SOLUTION:-</u></strong></h2><p><strong><u>➠ Given p = 20,000, r = 4, t = 6</u></strong></p><p><strong><u>[tex]S.I= \frac{20000 \times 4 \times 6}{100}$

S.I=

S.I= 100

si = 4800

simple interest = $4800

simple interest = $4800Thanks