The simple interest on a loan of $200 at 10 percent interest per year is
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$10 per year until the loan is paid off.
$15 per year until the loan is paid off.
$20 per year until the loan is paid off.
$25 per year until the loan is paid off.

The simple interest on a loan of $200 at 10 percent interest per year is $20 per year until the loan is paid off

Explanation:

We are given simple interest on a loan of $200 at 10 percent interest per year. We know that simple interest is given by the formula

S.I. =

Where P = principal which is given = 200$

R = Rate of interest = 10%  

T = Time which is given as 1 year  

So substituting the given values we get,

S.I. = = 20

So, the simple interest on a loan of $200 at 10 percent interest per year is 20$

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