Question

Find the simple interest. Principal ​$2300 rate 20​% time 27 months The interest is ​$ ?

Answer 1

$\bf \qquad \textit{Simple Interest Earned}\\\\ I = Prt\qquad \begin{cases} I=\textit{interest earned}\\ P=\textit{original amount deposited}\to& \ 2300\\ r=rate\to 20\%\to \frac{20}{100}\to &0.20\\ t=years\to \frac{27}{12}\to &\frac{9}{4} \end{cases} \\\\\\ I=2300\cdot 0.2\cdot \cfrac{9}{4}$