Answer:
The simple interest is $30
Step-by-step explanation:
To find this, we use the simple interest formula
Mathematically, this is;
I = PRT/100
P is the principal = $200
R is the rate = 5%
T is the time = 3 years
Substituting these values, we have;
I = (200 * 5 * 3)/100
I = $30
