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What is the simple interest on a principal of $6000 at a rate of 10% per annum f

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Question: What is the simple interest on a principal of $6000 at a rate of 10% per annum for 5 years?

Options:

  1. $3000
  2. $2500
  3. $2000
  4. $1500

Correct Answer: $2000

Solution: 

Simple Interest = 6000 × 10 × 5 / 100 = $3000

What is the simple interest on a principal of $6000 at a rate of 10% per annum f

Practice Questions

Q1
What is the simple interest on a principal of $6000 at a rate of 10% per annum for 5 years?
  1. $3000
  2. $2500
  3. $2000
  4. $1500

Questions & Step-by-Step Solutions

What is the simple interest on a principal of $6000 at a rate of 10% per annum for 5 years?
No concepts available.
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