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A invests $2000 at a rate of 5% per annum simple interest. How much interest wil

Practice Questions

Q1
A invests $2000 at a rate of 5% per annum simple interest. How much interest will he earn in 3 years?
  1. $300
  2. $200
  3. $150
  4. $100

Questions & Step-by-Step Solutions

A invests $2000 at a rate of 5% per annum simple interest. How much interest will he earn in 3 years?
  • Simple Interest – The calculation of interest earned on a principal amount over a specified time period at a fixed rate.
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