Question

Find the simple interest; Principal: $ 300, Rate: 18.5% , Time: 1.5 years

Answer 1

SOLUTION:

Step 1:

In this question, we are given the following:

Find the simple interest;

Principal: $ 300, Rate: 18.5% , Time: 1.5 years

Step 2:

The details of the solution are as follows:

$Si\text{mple Interest = }\frac{Principal\text{ x Time x Rate}}{100}$$Simple\text{ Interest = }\frac{300\text{ x 18. 5 x 1. 5}}{100}$