This mathematics problem involves applying core mathematical principles and formulas. Below you will find a complete step-by-step solution with detailed explanations for each step, helping you understand not just the answer but the method behind it.
ScanSolve AI Answer
Hey robertaujenio, good to see you again. Let's find the interest Ladu earned using the simple interest formula. Step 1: Write the formula for simple interest. I = P × R × T Where: I = Interest P = Principal amount R = Annual interest rate (as a decimal) T = Time in years Step 2: Identify the given values. P = 5,000,000 R = 20% = 0.20 T = 3 years Step 3: Substitute the values into the formula and calculate the interest. I = 5,000,000 × 0.20 × 3 I = 1,000,000 × 3 I = 3,000,000 Step 4: State the final interest. The interest earned was 3,000,000. Send me the next one 📸