$R 6000$ $R6000$ is invested at $6.5 %$ $6.5%$ simple interest. What is the final amount available after $3$ $3$ years?

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Answer 1 · 2018-06-14T11:23:56

$R 1170$ $R1170$

Apply the formula for Simple Interest.

$S I = \frac{P R T}{100}$ $SI = (PRT)/100$

$P =$ $P=$ principal ( the starting amount)
$R =$ $R=$ rate of interest
$T =$ $T=$ time in years

$S I = \frac{6000 \times 6.5 \times 3}{100}$ $SI = (6000xx6.5xx3)/100$

$S I = R 1170$ $SI = R1170$

However the total amount available includes the original amount and the interest earned.

Amount = $R 6000 + R 1170 = R 7170$ $R6000+R1170 = R7170$

R6000R6000 is invested at 6.5%6.5% simple interest. What is the final amount available after 33 years?