Find the simple interest on N280 for 5 years at 3 %per annum show working
I need just the answer to my question
The simple interest on 280 for 5 years at 3% per annum is 42.
Here's the working:
i = Prt
i = 280 x 0.03 x 5
i = 42
What is the simple interest on 280 for 5 years at 3% per annum
If the interest rate is actually 15%, then the simple interest on 280 for 5 years would be:
i = Prt
i = 280 x 0.15 x 5
i = 168
So the simple interest would be 168 Naira.
no, you need to know how to do it.
i = Prt
so plug in your numbers.