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What is the simple interest on a principal of $1200 at a rate of 9% per annum fo

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Question: What is the simple interest on a principal of $1200 at a rate of 9% per annum for 5 years?

Options:

  1. $540
  2. $600
  3. $720
  4. $800

Correct Answer: $540

Solution: 

Simple Interest = 1200 × 9 × 5 / 100 = $540.

What is the simple interest on a principal of $1200 at a rate of 9% per annum fo

Practice Questions

Q1
What is the simple interest on a principal of $1200 at a rate of 9% per annum for 5 years?
  1. $540
  2. $600
  3. $720
  4. $800

Questions & Step-by-Step Solutions

What is the simple interest on a principal of $1200 at a rate of 9% per annum for 5 years?
No concepts available.
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