What is the exact simple interest on a 150-day loan of $2,350 at 10%?
A) $96.58
B) $58.67
C) $28.20
D) $9.66

Name: What is the exact simple interest on a 150-day loan of $2,350 at 10%? A) $96.58 B) $58.67 C) $28.20 D) $9.66
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Question

Quizplus · Accepted Answer

Simple Interest = (P * R * T)/100
Here, P = $2,350, R = 10%, and T = 150/365 years (converting days to years)
Simple Interest = (2350 * 10 * 150/365) / 100 = $96.58. Therefore, the answer is A.

What Is the Exact Simple Interest on a 150-Day Loan