A woman received 5 per cent interest on a loan of $300 for 1 year. How much interest did she receive? $5 $15 $30 $150 none of th
ese
1 answer:
Answer:
15$
Step-by-step explanation:
this is because if you use our formula of I= prt
we can substitute our varibles for our equation
I= 300 x 0.05 x 1
we turn 5 in 0.05 to represent out rate, due to this our rate would have to be Simplified into a percent then a decimal
after this if we now proceed through our equation we will get
I = 300 x 0.05 x 1
I = 15
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