How much will be the simple interest of $800.00 at 3.5% during a year?

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How much will be the simple interest of $800.00 at 3.5% during a year?

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Answer 1 · 2018-07-02T04:56:48

$$ 28$ $$28$

Explanation:

Given: simple interest on $$ 800$ $$800$ at $3.5 %$ $3.5%$ in a year.

Simple Interest: $I = p r t$ $I = p r t$ , where $p = investment amount$ $p = "investment amount"$ , $r = interest rate = \frac{%}{100}$ $r = "interest rate" = %/100$ , $t = time in years$ $t = "time in years"$

For the given: $I = 800 \cdot \frac{3.5}{100} \cdot 1 = $ 28$ $I = 800 * 3.5/100 * 1 = $28$

Answer 2 · 2018-07-02T05:02:43

$I = 8 \cdot 3.5 = $ 28.00$ $color(magenta)(I = 8 * 3.5 = $28.00$

Explanation:

$Simple interest I = \frac{P N R}{100}$ $"Simple interest " I =( P N R )/ 100$

$P = $ 800.00, N = 1 year, R = 3.5$ $P = $800.00, N = 1 " year", R = 3.5$

$Interest = I = (cancel(800)^color(red)(8) * 1 * 3.5) / cancel(100)$

$color(magenta)(I = 8 * 3.5 = $28.00$

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How much will be the simple interest of $800.00 at 3.5% during a year?

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