Multiple choice

What would a sum of 8800 amount to in 16 years at a simple interest rate of 12% every year ?

  1. 14440

  2. 18846

  3. 25696

  4. 32322
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Simple interest = P * R * T / 100. SI = 8800 * 12 * 16 / 100 = 88 * 192 = 16896. Amount = Principal + SI = 8800 + 16896 = 25696.

AI explanation

The simple interest formula is Interest equals Principal times Rate times Time divided by 100. Substituting the values gives Interest equals 8800 times 12 times 16 divided by 100, which equals 16896. Adding this interest to the principal gives 8800 plus 16896, resulting in a total amount of 25696.

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