Question

#6 : Dan borrowed $2,000 for 6 months at 12% annual simple interest rate. How much interest is that? [HINT: Time has to be in YEARS!! 6 months is half of a year or 0.5]
O 120
O 1200
O 144
O 1440

Answer 1

Answer:

That would be D.1440

Step-by-step explanation:

The formula for simple interest is I= P×r×t.

p=principal amount(2,000)

r=rate(12%)

t=time/month(6)

Answer 2

Answer:

simple Interest =PRT/100

from the question, P=£2000, R=12% and T=1/2

SI = 2000×12×0.5/100

=120