Question

The interest of 1500 for 3 years at 7% per annum is:
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Answer 1

Answer:

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Step-by-step explanation:

Principal: The money which we deposit in or the lower from the bank or the money learned called the principal.

Rate of interest: The interest paid on $ 100 for one year is called the rate per cent per year or rate per cent per annum.

Time: The period of time for which the money is lent or invested.

Interest: Additional money paid by the borrowed to the lender for using the money is called interest.

Simple Interest: If the interest is calculated uniformly on the original principal throughout the lone period, it is called simple interest.

Amount: The total money paid back to the lender is called the amount

Answer 2

Answer:

315

Step-by-step explanation:

• Intest= PTR/100
• P=1500
• T=3 YEARS
• R=7%
• SO,1500*3*7/100=315