Question

1What is the simple interest on #25 000 for 3years at 5% per annum?.

Answer 1

Answer:

3750

Step-by-step explanation:

Simple interest (I) is calculated as

I = $\frac{PRT}{100}$ ( P is the principal, R is rate of interest and T time in years )

Here P = 25000, R = 5 and T = 3 , thus

I = $\frac{25000(5)(3)}{100}$

  = $\frac{375000}{100}$

  = 3750