Answer: 45$
Step-by-step explanation:
Given
Principal [tex]P=\$500[/tex]
Rate [tex]R=6\%[/tex]
time [tex]t=18\ \text{months or}\ 1.5\ \text{years}[/tex]
Simple interest is given by
[tex]\Rightarrow S.I.=\dfrac{P\times R\times T}{100}[/tex]
In the question, time is taken in months which is incorrect
Putting values
[tex]\Rightarrow S.I.=\dfrac{500\times 6\times 1.5}{100}=45\$[/tex]
