Verified Answer :

RhysH

1% of 700 = 7
4% of 700 = 28
interest = $28

emmanuelkumi

Simple Interest (SI) = Principal × Rate × Time
                                       100
SI = 700$ × 4% × 2
              100
SI = 7 × 4 × 2
SI = 56
therefore the simple interest is 56$

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