Answer:
Interest rate formula
I = PRT
where,
I = simple interest
P= principle
R= annual interest
T= relevant time period
I= PRT
I=500×15/100×2
I=150
total amount formula,
A=P+PRT
where,
A=total amount
A=P+PRT
A=500+150
A=650
answer,
interest amount=$150
total amount = $650
