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If a person invests $2000 at a simple interest rate of 5% per annum, how much in

Practice Questions

Q1
If a person invests $2000 at a simple interest rate of 5% per annum, how much interest will he earn in 3 years?
  1. $300
  2. $200
  3. $150
  4. $250

Questions & Step-by-Step Solutions

If a person invests $2000 at a simple interest rate of 5% per annum, how much interest will he earn in 3 years?
  • Simple Interest – The calculation of interest earned on a principal amount over a specific period at a fixed rate.
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