Chapter 2: Q. 2.50 (page 126)

Susana invested a principal of $$ 36000$ in her bank account that earned simple interest at an interest rate of $6.5 %$ . How much interest did she earn in three years?

Short Answer

Expert verified

Susana earned the interest = $$ 7020$

Step by step solution

Step 1. Expression to be used for the simple interest,

Interest = $p r t$

Here, $p =$ Principal amount

$r =$ rate of interest

$t =$ Duration of investment

Step 2. Substitute the values given in the question,

$p = $ 36000$

$r = 6.5 % = 0.065$

$t = 3$ years

Interest = $36000 \times 0.065 \times 3$

= $$ 7020$

Unlock Step-by-Step Solutions & Ace Your Exams!

Full Textbook Solutions
Get detailed explanations and key concepts
Unlimited Al creation
Al flashcards, explanations, exams and more...
Ads-free access
To over 500 millions flashcards
Money-back guarantee
We refund you if you fail your exam.

Start your free trial

Over 30 million students worldwide already upgrade their learning with Vaia!

Recommended explanations on Math Textbooks

View all explanations

What do you think about this solution?

We value your feedback to improve our textbook solutions.

Susana invested a principal of $$ 36000$ in her bank account that earned simple interest at an interest rate of $6.5 %$ . How much interest did she earn in three years?

Short Answer

Step by step solution

Step 1. Expression to be used for the simple interest,

Step 2. Substitute the values given in the question,

One App. One Place for Learning.

Most popular questions from this chapter

Recommended explanations on Math Textbooks

Probability and Statistics

Calculus

Decision Maths

Pure Maths

Geometry

Logic and Functions

Study anywhere. Anytime. Across all devices.

Susana invested a principal of $36000 in her bank account that earned simple interest at an interest rate of 6.5%. How much interest did she earn in three years?

Short Answer

Step by step solution

Step 1. Expression to be used for the simple interest,

Step 2. Substitute the values given in the question,

One App. One Place for Learning.

Most popular questions from this chapter

Recommended explanations on Math Textbooks

Probability and Statistics

Calculus

Decision Maths

Pure Maths

Geometry

Logic and Functions

Study anywhere. Anytime. Across all devices.

Susana invested a principal of $$ 36000$ in her bank account that earned simple interest at an interest rate of $6.5 %$ . How much interest did she earn in three years?