hanamohammed28 hanamohammed28

16-03-2022
Mathematics

contestada

anu borrows 12,500 as 12% per annum for 3 years at simple interest find the simple interest she has to pay at the end of 3 years

Respuesta :

mathstudent55 mathstudent55

16-03-2022

Answer:

The interest is 4,500

Step-by-step explanation:

We use the simple interest formula,

I = Prt

where

I = interest

P = principal amount = 12,500

r = interest rate = 12% = 0.12

t = time = 3 years

I = Prt

I = 12,500 × 0.12 × 3

I = 4,500

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