Find the simple interest on 280 for 5years at 3percent per annum

Answer 1

Simple interest = Principal x Rate x Time
Where,
Principal = 280
Rate = 3% per annum
Time = 5 years

Putting the values in the formula, we get:
Simple interest = 280 x 3/100 x 5
Simple interest = 42

Therefore, the simple interest on 280 for 5 years at 3% per annum is 42.