Calculate the simple interest on a principal of 6,000 BDT invested at 8% per annum for a period of 3 years.
Answer and explanation
Correct answer: D. 1,440 BDT
- Step 1: Simple interest formula: I = (P r t) / 100. Step 2. Substitute values: I = (6,000 8 3) / 100 = 60 24 = 1,440 BDT. Answer: 1,440 BDT. Why not the others:* 1,200 BDT computes interest for 2.5 years; 1,500 BDT uses wrong rate; 1,800 BDT uses 10% interest.
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