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Simple interest of 8000 1% 1year

Sagot :

Answer:

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Step-by-step explanation:

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Hello!

SIMPLE INTEREST

Formula

  • I = P × R × T

I - Interest

P - Principal

R - Rate

T - Time

Our Given:

  • P - 8000
  • R - 1%
  • T - 1 year

Solution:

  • I = 8000 × 1% × 1year
  • I = 8000 × 0.01 × 1
  • I = 80

Answer:

  • 80 interest.

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Simple Interest - The payment for the use of money borrowed that is calculated by multiplying the principal by the rate by the time (number of years).

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