The Simple Interest on $768 for 5 years at 20% p.a. is: Ops: A. $728 B. $688 C. $768 D. $828
Question
The Simple Interest on 728 B. 768 D. $828
Solution
To calculate simple interest, we use the formula:
Interest = Principal x Rate x Time
Here, the principal is $768, the rate is 20% per annum (or 0.20 when expressed as a decimal), and the time is 5 years.
So, the interest is:
Interest = 768
Therefore, the correct answer is C. $768.
Similar Questions
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