Man received $14 interest in a year.
How to calculate simple interest?
Simple Interest amount is calculated by the product of principal amount, rate of interest(%), and time.
Simple Interest= S.I. =p*t*r/100
where p is the principal amount,
r is the interest rate (%),
t is the time (in year).
Here, given,
principal amount P is = $200
rate of interest is= r=7%
time to receive is =t=1 year
using this above formula,
Simple Interest S.I.= p*t*r/100
= (200*1*7)/100
= $14
Therefore man received $14 interest in a year.
Learn more about Simple interest
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