Find the interest paid on a loan of 2700 for two years at a

Find the interest paid on a loan of $2,700 for two years at a simple interest rate of 10% per year. The interest on the loan is $

Solution

Simple interest=(Principal*Interest rate*Time period)

which is equal to

=($2700*10%*2)

=$540.

2.381 to the nearest tens place

=380