As given by the question
There are given that the value to find the interest is:
[tex]\begin{gathered} \text{Amount}=12300 \\ \text{Time}=3 \\ \text{Interest 6\%} \end{gathered}[/tex]Now,
From the formula to find the interest:
[tex]I=P\times r\times t[/tex]Where,
[tex]\begin{gathered} P=12300 \\ T=3 \\ I=6\%=0.06 \end{gathered}[/tex]Then,
Put all values into the given formula:;
So,
[tex]\begin{gathered} I=P\times r\times t \\ I=12300\times0.06\times3 \\ I=2214. \end{gathered}[/tex]Hence, the interest earned is $2214.
