Question

Simple interest $1600.00 at 6% for 180 days

Answer 1

Answer:

Interest = $47.34

Step-by-step explanation:

Formula:-

Simple interest I = PNR/100

P - Principle amount  

N - number of years

R - Rate of interest

It is given that

P = $ 1600

R = 6%

Number of days = 180 days

To find the simple interest for 1 year(365 days)

I = PNR/100

= (1600 * 1 * 6)/100 = $96

To find the interest for 180 days

For 365 day I = $96

For 180 days I = (180/365) * 96

I  = $47.34