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If the simple interest on a sum of money is $300 in 5 years at a rate of 6% per

Practice Questions

Q1
If the simple interest on a sum of money is $300 in 5 years at a rate of 6% per annum, what is the principal?
  1. $1000
  2. $1200
  3. $1500
  4. $1800

Questions & Step-by-Step Solutions

If the simple interest on a sum of money is $300 in 5 years at a rate of 6% per annum, what is the principal?
  • Simple Interest – The calculation of interest on a principal amount over a specific period at a given rate.
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