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What will be the simple interest on a principal of $2500 at a rate of 7% per ann

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Question: What will be the simple interest on a principal of $2500 at a rate of 7% per annum for 4 years?

Options:

  1. $700
  2. $800
  3. $900
  4. $1000

Correct Answer: $700

Solution: 

Simple Interest = 2500 × 7 × 4 / 100 = $700.

What will be the simple interest on a principal of $2500 at a rate of 7% per ann

Practice Questions

Q1
What will be the simple interest on a principal of $2500 at a rate of 7% per annum for 4 years?
  1. $700
  2. $800
  3. $900
  4. $1000

Questions & Step-by-Step Solutions

What will be the simple interest on a principal of $2500 at a rate of 7% per annum for 4 years?
No concepts available.
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