How much simple interest does $2,400 earn in 3 years at an annual rate of 5 percent?
Pick an answer
Correct!
Not quite. The correct answer is highlighted.
Correct answer to question 15 (Arithmetic Reasoning): $360
Method
Simple interest is principal times rate times time. One year earns 2400 x 0.05 = $120, so three years earn 3 x 120 = $360. Note the question asks for the interest alone, not the final balance.
Updated: November 2026
Raise your AFQT scoreFree for iPhone and Android
