Question

9 If 10,000 Birr is invested for 6 years at annual simple interest rate of 16%, what will be interest earned and annount of the investment at the end of the 6 years respectively? (A) 600, & 19600 (B) 9600, & 600 (C) 9600, & 19600 (D) 6900, &16900 (E) None of the above​

Answer 1

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Answer:

  (C)  9600, 19600

Step-by-step explanation:

The interest is given by ...

  I = Prt

  I = 10,000×0.16×6 = 9,600 . . . interest earned

The amount of the investment is the total of the principal and the interest earned:

  10,000 +9,600 = 19,600 . . . amount of investment after 6 years