Mathematics
Grade-7
Easy

Question

_______ is the interest on £567 at 4% every year over a period of 6 years.

  1. 135
  2. 80.25
  3. 136.08
  4. 142.8

hintHint:

Obtain the simple interest from the given data by substituting in the simple interest formula.

The correct answer is: 136.08


    Simple interest, I = PRT
    P=£567, r=4%= 0.04 and t= 6 years. Substituting the values, we get:
    I = 567 × 0.04 x 6 = £ 136.08

    >>>S i m p l e r space i n t e r e s t space equals space fraction numerator P r i n c i p a l space a m o u n t cross times T i m e cross times R t a e space o f space i n t e r e s t over denominator 100 end fraction
    >>>Simple interest = fraction numerator 567 cross times 4 cross times 6 over denominator 100 end fraction
    >>>Simple Interest = 130.80

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