The amount of interest after one year with a principle of $4,000 and a rate of interest of 8% (simple interest) can be calculated as follows:
Interest = Principle x Rate x Time
Where time is in years.
In this case, the time is one year:
Interest = 4000 x 0.08 x 1
Interest = $320
Therefore, the amount of interest after one year is $320. Option D is correct.
If the principle is $4,000 and the rate of interest is 8% (simple interest), what is the
amount of interest after one year?
If the principle is $4,000 and the rate of interest is 8% (simple interest), what is the
amount of interest after one year?
$3200
$5000
$4320
$320
1 answer