Answer:
960
Step-by-step explanation:
Let P, R and T denote principal amount, rate of interest and time period.
Principal amount of loan (P) = 4,000
Time period (T) = 4 years
Rate of interest (R) = 6%
Simple interest is calculated using the following formula:
Simple interest [tex]=\frac{4000(4)(6)}{100} =960[/tex]
So,
Simple interest is equal to 960
