Find simple intrest
principal= $300
Rate= 10%
Time 3 and a half years
srry i meant $3000 principal
300 * 0.1 * 3.5 = ?
3000 * 0.1 * 3.5 = ?
To find the simple interest, you need to use the formula:
Simple Interest = (Principal * Rate * Time) / 100
In this case:
Principal = $300
Rate = 10% (which is equivalent to 0.10)
Time = 3.5 years
Now, we can substitute these values into the formula and calculate the simple interest.
Simple Interest = (300 * 0.10 * 3.5) / 100
= 10.5
Therefore, the simple interest on a principal amount of $300, at a rate of 10% for a time period of 3.5 years is $10.50.