Simple Interest

Find the Simple interest on $1,200 for 3 years at 5% per annum

• $180
• $90
• $240
• $150

• ₦3,750
• ₦2,500
• ₦5,000
• ₦4,500

Calculate the simple interest on ₦30,000 for 4 years at 3% per annum.

• ₦2,400

• ₦4,500

• ₦1,800

• ₦3,600

What is the simple interest on $2,500 for 5 years at 4% per annum?

• $400

• $600

• $500

• $300

If you borrow ₦20,000 at 6% per annum simple interest for 2 years, what is the total interest paid?

• ₦2,400

• ₦1,200

• ₦1,600

• ₦2,000