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What is the simple interest on a principal of $2500 at a rate of 6% per annum fo

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Question: What is the simple interest on a principal of $2500 at a rate of 6% per annum for 4 years?

Options:

  1. $600
  2. $480
  3. $720
  4. $500

Correct Answer: $480

Solution: 

Simple Interest = 2500 * 0.06 * 4 = $600.

What is the simple interest on a principal of $2500 at a rate of 6% per annum fo

Practice Questions

Q1
What is the simple interest on a principal of $2500 at a rate of 6% per annum for 4 years?
  1. $600
  2. $480
  3. $720
  4. $500

Questions & Step-by-Step Solutions

What is the simple interest on a principal of $2500 at a rate of 6% per annum for 4 years?
No concepts available.
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