A Lucky Promise Q; solve the problem with solution, P=100, T=10, R=3%, I=?

 A Lucky Promise Q; solve the problem with solution, P=100, T=10, R=3%, I=?

Solution,

I=P×R×T÷100

Where:

• $�$ is the interest,
• $�$ is the principal amount,
• $�$ is the rate of interest, and
• $�$ is the time in years.

In your case:

• $�=100$ (principal amount),
• $�=10$ (time in years), and
• $�=3\mathrm{\%}$ (rate of interest).

Substitute these values into the formula:

$�=100\times 3\times 10÷100$

Now, calculate:

$�=30$

So, the simple interest ($�$) is $30.

✍👉 Prosperous team