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Calculate the simple interest on 6,500 for 4 years at 6%
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Calculate the simple interest on 6,500 for 4 years at 6%

A. N1,200

B. N1,500

C. N2,400

D. N2,200

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peter
Asked by peterrep:1.4K
University of Lagos Nigeria
07 May 2020

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james_mark
James_mark answeredrep:559
School not set Nigeria
19 July 2020
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simple interest, I = (principal x rate x time)/100

principal = 6,500

rate = 6%

time = 4 years

I = (6,500 x 6 x 4)/100

I = 1,560

Ans B

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