Question

find the simple interest on £120,000.00 for 5 months at 12% per annum​

Answer 1

Answer:

£6,000

Step-by-step explanation:

Use the simple interest formula:

I = Prt

I = (Principal Value)*(Annual Interest Rate)*(Time in Years)

I = (120000)(0.12)(5/12)

I = 6000

Therefore, the simple interest is £6,000