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What is the simple interest earned on a principal of $800 at a rate of 5% per an

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Question: What is the simple interest earned on a principal of $800 at a rate of 5% per annum over 4 years?

Options:

  1. $160
  2. $180
  3. $200
  4. $220

Correct Answer: $160

Solution: 

Simple Interest = P * r * t = 800 * 0.05 * 4 = 160.

What is the simple interest earned on a principal of $800 at a rate of 5% per an

Practice Questions

Q1
What is the simple interest earned on a principal of $800 at a rate of 5% per annum over 4 years?
  1. $160
  2. $180
  3. $200
  4. $220

Questions & Step-by-Step Solutions

What is the simple interest earned on a principal of $800 at a rate of 5% per annum over 4 years?
No concepts available.
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