Question

What is the interest on $800 at 6% for 4 years?

A. $192.00
B. $48.00
C. $182.00
D. $19.20

Answer 1

Principle (P) = $ 800

Rate (R) = 6%

Time (T) = 4 years

Simple Interest = $\frac{PRT}{100} = \frac{800*6*4}{100} = \frac{8*6*4}{1}$ = $ 192

Hence, the interest is $192--- A.