The simple interest on a principal, P can be obtained using the formula
[tex]\text{Simple interest =}\frac{P\text{ X R X T}}{100}[/tex][tex]\begin{gathered} P\text{ = 2000, R = 12, T = 3} \\ \text{Simple interest =}\frac{2000\text{ x 12 x 3}}{100} \\ \\ =\text{ \$ 720} \end{gathered}[/tex]Total amount = $2000 + $720
=> $ 2720
