Option A
The simple interest earned is $ 105
Solution:
Given that, $300 at 5% annual interest for 7 years
Therefore,
Principal = $ 300
Rate of interest = 5 %
Number of years = 7
The simple interest is given by formula:
[tex]Simple\ Interest = \frac{p \times n \times r }{100}[/tex]
Where,
p is the principal
r is the rate of interest
n is the number of years
Substituting the values in formula,
[tex]Simple\ Interest = \frac{300 \times 7 \times 5 }{100}\\\\Simple\ Interest = 3 \times 7 \times 5\\\\Simple\ Interest = 105[/tex]
Thus simple interest earned is $ 105
