Verified answer

✒ INTEREST and A.D

• What are the interest and amount due on a principal of ₱6, 000 for 2 years at 15%?

• Interest = Php 1,800.00
• A.D = Php 7, 800.00

»To find the interest due, use the formula I = PRT

• I = PRT
• I = 6,000 × 15% × 2
• I = 6,000 × 0.15 × 2
• I = 6,000 × 0.3
• I = 1,800

The simple Interest will be Php 1,800.00

»Now to find the amount due, add the principal plus the interest using the formula A = P + I

• A = P + I
• A = 6,000 + 1,800
• A = 7,800

The total amount due will be Php 7, 800.00

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