Question

What is the interest if p = $100 , r = 2.5% and t = 10 years?

Answer 1

`”Interest “ = $25`

Explanation:

Assuming it to be simple Interest.

`”Interest “ I = ( P * N * R) / 100`

`”Given “ P = $100, N = 10 “ years”, R = 2.5%`

`I = (100 * 10 * 2.5) / 100`

`I = $25`