A quiz has 8 multiple choice questions and 4 options for each. How many ways are there to answer the questions
2 answers:
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Given:
Principal value = $1200
Rate of interest = 3% per year
To find:
The interest earned by Jenny in one year.
Solution:
Formula of interest:
Where, P is principal, r is rate of interest and t is time.
We have, P = 1200, r = 3, t=1. Putting these values, we get
The interest earned by Jenny in one year is $36.
Therefore, the correct option is A.