Mr. Badjie deposited D 27,000.00 for 3 years at a rate of 6% per annum. Calculate the simple interest.

Here's how to calculate the simple interest: Step 1: Identify the given values. Principal (P) = D 27,000; Rate (R) = 6% per annum; Time (T) = 3 years Step 2: Write the formula for simple interest. SI = (P × R × T)/(100) Step 3: Substitute the values into the formula. SI = (27000 × 6 × 3)/(100) Step 4: Calculate the simple interest. SI = (27000 × 18)/(100); SI = 270 × 18; SI = 4860 The simple interest is D 4,860. D 4,860

Mr. Badjie deposited D 27,000.00 for 3 years at a rate of 6% per annum. Calculate the simple interest.

Here's how to calculate the simple interest: Step 1: Identify the given values. Principal (P) = D 27,000; Rate (R) = 6% per annum; Time (T) = 3 years Step 2: Write the formula for simple interest. SI = (P × R × T)/(100) Step 3: Substitute the values into the formula. SI = (27000 × 6 × 3)/(100) Step 4: Calculate the simple interest. SI = (27000 × 18)/(100); SI = 270 × 18; SI = 4860 The simple interest is D 4,860. D 4,860

Solved: Mr. Badjie deposited D 27,000.00 for 3 years at a…

Here's how to calculate the simple interest:

Identify the given values.
- Principal ( $P$ ) = D 27,000
- Rate ( $R$ ) = 6% per annum
- Time ( $T$ ) = 3 years
Write the formula for simple interest.
$SI = \frac{P \times R \times T}{100}$
Substitute the values into the formula.
$SI = \frac{27000 \times 6 \times 3}{100}$
Calculate the simple interest.
$SI = \frac{27000 \times 18}{100}$ $SI = 270 \times 18$ $SI = 4860$
The simple interest is D 4,860.
$\text{D } 4,860$

Mr. Badjie deposited D 27,000.00 for 3 years at a rate of 6% per annum. Calculate the simple interest.

Answer

Step-by-step solution

Identify the given values.

Write the formula for simple interest.

Substitute the values into the formula.

Calculate the simple interest.

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