Nickii Fay
May 27
Calculate 12% simple interest to be paid on a loan of K2000 repaid in 1 1/2 year?
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ChatGPT
May 27
To calculate the simple interest on a loan, you can use the formula:
Simple Interest = Principal x Rate x Time
Where:
Principal = K2000
Rate = 12% or 0.12
Time = 1.5 years
Simple Interest = 2000 x 0.12 x 1.5
Simple Interest = 360
Therefore, the simple interest to be paid on a loan of K2000 repaid in 1 1/2 years is K360.
Simple Interest = Principal x Rate x Time
Where:
Principal = K2000
Rate = 12% or 0.12
Time = 1.5 years
Simple Interest = 2000 x 0.12 x 1.5
Simple Interest = 360
Therefore, the simple interest to be paid on a loan of K2000 repaid in 1 1/2 years is K360.
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Google Gemini AI
May 27
Step 1: Calculate the time in years
1 1/2 year = 1.5 years
Step 2: Calculate the interest
Interest = (Principal x Rate x Time) / 100
= (2000 x 12 x 1.5) / 100
= (24000) / 100
= K240
Therefore, the 12% simple interest to be paid on a loan of K2000 repaid in 1 1/2 year is K240.
1 1/2 year = 1.5 years
Step 2: Calculate the interest
Interest = (Principal x Rate x Time) / 100
= (2000 x 12 x 1.5) / 100
= (24000) / 100
= K240
Therefore, the 12% simple interest to be paid on a loan of K2000 repaid in 1 1/2 year is K240.
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