Question

The simple interest on $ 4,500 for 2 years at 12% p.a. is:​

Answer 1

Answer:

$1080

Step-by-step explanation:

Given,

       Principal= $4500

       Time= 2 yrs

       Rate= 12%  

According to formula,

       S.I.= P*T*R/100

            = $4500*2*12/100

             = $1080 (answer)

Answer 2

Given:

Principle, P = $ 4,500

Time = 2 years

Rate of interest, R = 12%

To find :

The simple interest

Formula to be used:

Simple interest, S.I = $\frac{PTR}{100}$

Solution:

We can calculate the simple interest by using the following formula,

Simple interest, S.I = $\frac{PTR}{100}$

Let,

P = $ 4,500

T = 2 years

R = 12%

Simple interest = $\frac{PTR}{100}$

Simple interest = $\frac{4500(2)(12)}{100}$

Simple interest = 45 × 2 × 12

Simple interest = $ 1,080

Final answer:

The simple interest on $ 4,500 for 2 years at 12% p.a. is $ 1,080