What is the simple interest earned when £500 is invested for 3 years at an interest rate of 6%
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Answer:
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Here's Your Answer:-
Step-by-step explanation:
Principal Amount= 500
Time= 3 years
Rate of Interest= 6%
S.I.= PRT
= 500 x 3 x 6/100
= 90
Therefore, the simple interest earned is 90.
Answered by
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Answer:
Principal(P)=500
Rate(R)=6℅
Time(T)=3year
Simple Interest(S:I)=P×R×T÷100
500×6×3÷100=5×6×3=90
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