Calculate the simple interest on investing $650 for 3 years at rate of 11% per annum.

I = $ 214.50

Equation:
I = Prt

Calculation:
First, converting R percent to r a decimal
r = R/100 = 11%/100 = 0.11 per year,
then, solving our equation

I = 650 × 0.11 × 3 = 214.5
I = $ 214.50

The simple interest accumulated
on a principal of $ 650.00
at a rate of 11% per year
for 3 years is $ 214.50.

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