The same 10,000 borrowed at 15% simple interest gives interest over tw…

Question

The same 10,000 borrowed at 15% simple interest gives interest over two years of:

Accepted Answer

B. 3000

1. One year gives 1500.
2. Simple interest repeats the same amount.
3. Two years give 3000.
_Source: syllabus Mathematics, Chapter 8, Comparing Quantities._

Answer

6000

Answer

1500

Answer

4500

The same 10,000 borrowed at 15% simple interest gives interest over two years of:

Keep practising Simple and Compound Interest