If the simple interest on a sum of money is $150 in 3 years at a rate of 5% per
Practice Questions
Q1
If the simple interest on a sum of money is $150 in 3 years at a rate of 5% per annum, what is the principal amount?
$1000
$1200
$900
$800
Questions & Step-by-Step Solutions
If the simple interest on a sum of money is $150 in 3 years at a rate of 5% per annum, what is the principal amount?
Simple Interest Calculation – Understanding the formula for calculating simple interest, which is SI = P * R * T / 100, where SI is the simple interest, P is the principal amount, R is the rate of interest, and T is the time in years.
