Question

Calculate the simple interest earned on a deposit of R1,11000 at 6,5% for one year​

Answer 1

 R72. 15.

Step-by-step explanation:

Calculate the simple interest: Simple Interest = 1,110.00 × 0.065 × 1 = 1,110.00 × 0.065 = 72.15 Therefore, the simple interest earned on a deposit of R1,110.00 at 6.5% for one year is R72. 15.

Answer 2

To calculate simple interest, you can use the formula:

Simple Interest
=
Principal
×
Rate
×
Time
Simple Interest=Principal×Rate×Time

Given:

Principal (P) = R1,11000
Rate (R) = 6.5% or 0.065 (in decimal)
Time (T) = 1 year
Substitute these values into the formula:

Simple Interest
=
111000
×
0.065
×
1
Simple Interest=111000×0.065×1

Simple Interest
=
111000
×
0.065
Simple Interest=111000×0.065

Simple Interest
=
7215
Simple Interest=7215

So, the simple interest earned on a deposit of R1,11000 at 6.5% for one year is R7215.