Q: If principle is 3000 and rate of interest is 10 and numbers of years are 2 what is the simple interest?

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18.90currency as an interest..

AnswerCompound interest works like this.Take a principle (The amount of money you deposit) of $10,000.Lets say that the interest rate is 8% and that it compounds anually.At the end of one year you would have $10,800.With simple interest, at the end of two years, you would have $11,600 because you only earn interst on the principle.After three years you would have $12,400.However, with compound interest, you will earn interest on not just the principle, but the compounded interest as well.Therefore, with compound interest, at the end of two years, you would have 11,664.After three years it would be $12,597.12 and so on.

If the 3.5 percent is per year, with simple interest you have the equation: 2142 = 15300*0.035*t ; then solve for t = 4, so 4 years.

Simple interest does not compound. In other words, If you start off with $500 and get $5 in interest, the $5 you got in interest will not be included when calculating the amount of interest you will get next year. Simple interest can be calculated by the formula i = prt, where i is the amount of money earned from the interest, p is the principle (starting money), r is the rate (as a decimal,) and t is the time in years. Another formula is used to calculated the accumulated amount: A = p(rt + 1), where A is the accumulated amount.

7% simple annual interest over 2 years = 14% total interest.14% of R528 = R73.92 .

Related questions

18.90currency as an interest..

18.90 as an interest. and principle wil remain same.

If the interest is simple interest, then the 300,000 earns an additional 270,000 in 30 years (on top of the principle). If the interest is compound interest paid annually, then the 300,000 earns an additional 428,178.74 in 30 years (on top of the principle).

Simple interest equals principle (p), times rate (expressed as a fraction) (r) times time (in years) (t). So 16500*(8/100)*2= 2640.

AnswerCompound interest works like this.Take a principle (The amount of money you deposit) of $10,000.Lets say that the interest rate is 8% and that it compounds anually.At the end of one year you would have $10,800.With simple interest, at the end of two years, you would have $11,600 because you only earn interst on the principle.After three years you would have $12,400.However, with compound interest, you will earn interest on not just the principle, but the compounded interest as well.Therefore, with compound interest, at the end of two years, you would have 11,664.After three years it would be $12,597.12 and so on.

I=prt Switch the principle with the interest. Then work the equation out.

If the 3.5 percent is per year, with simple interest you have the equation: 2142 = 15300*0.035*t ; then solve for t = 4, so 4 years.

At what rate of simple interest will the interest on Rs.925 be two-fifth of it in 8 years?

Simple interest does not compound. In other words, If you start off with $500 and get $5 in interest, the $5 you got in interest will not be included when calculating the amount of interest you will get next year. Simple interest can be calculated by the formula i = prt, where i is the amount of money earned from the interest, p is the principle (starting money), r is the rate (as a decimal,) and t is the time in years. Another formula is used to calculated the accumulated amount: A = p(rt + 1), where A is the accumulated amount.

7% simple annual interest over 2 years = 14% total interest.14% of R528 = R73.92 .

since its not compounded this is a very simple problem. r= interest rate x= principle y=years Interest Accumulated = x*y*r so, in your case: 2500 = 10000 * 5 * r 2500 = 50000r divide both sides by 2500 and you get: r=.05 (or 5%)

The interest is 300% per year.