Featured image of post Simple Interest For Class 6 : In the following example we are taking the values of p, r and t from user and then we are calculating the simple interest based on entered values.

Simple Interest For Class 6 : In the following example we are taking the values of p, r and t from user and then we are calculating the simple interest based on entered values.

Also, the answer key and explanations are given for the same.

Simple Interest For Class 6 - Thus, if simple interest is charged at 5% on a $10,000 loan that is taken out for three years, the total amount of interest payable by the borrower is calculated as $10,000 x 0.05 x 3 = $1,500.

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