Question :-
$775 at 6% simple interest for 3 years.
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Solution :-
Given Information :-
- Principal ( P ) = $775
- Rate of Interest ( R ) = 6% p.a.
- Time Period ( T ) = 3 years
To Find :-
Formula Used :-
- [tex] \boxed{ \sf\dfrac{principal \times rate \times time}{100} }[/tex]
Calculation :-
Substituting the given values in the formula, We get,
[tex] \sf: \implies \dfrac{775 \times 6 \times 3}{100} [/tex]
Calculating further, We get,
[tex] \sf: \implies \dfrac{13950}{100} [/tex]
Dividing, We get,
[tex] \sf: \implies \$ 139.50[/tex]
∴ The Simple Interest is $139.50
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Final Answer :-
- The Simple Interest is $139.50
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