Which expression can be substituted for y in the top equation of the
1 answer:
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Option A
The simple interest earned is $ 105
<em><u>Solution:</u></em>
Given that, $300 at 5% annual interest for 7 years
Therefore,
Principal = $ 300
Rate of interest = 5 %
Number of years = 7
<em><u>The simple interest is given by formula:</u></em>
Where,
p is the principal
r is the rate of interest
n is the number of years
<em><u>Substituting the values in formula,</u></em>
Thus simple interest earned is $ 105