Question

Find the simple interest on $12,000 for 2 years at a rate of 6% per year

Answer 1

SI = Prt
Principal x Rate x Time

Answer 2

How much time ? @pphalke

Answer 3

isn't it 1,440?

Answer 4

Find an interest by using the formula I=Pit, where I is interest, P is total principal, i is rate of interest per year, and t is total time in years.

In this example P = $12000, i = 6% and t = 2 years, so

III=Pit=12000 0.06 2=1440
Find an amount by using the formula A=P+I.

Since P = $12000 and I = $1440 we have
A = 13440