Question

1. Find the simple interest and the amount in the following
(iii) Principal = 14,320, rate = 0.5% per month, and time = 1 year and 3 months​

Answer 1

Answer:

Principle(P)=Rs.14320

Rate of interest (R)=0.5% per month

Time period (T)=1 year 3 months

Since R is per month so,we need to convert T into months.

Now,1 year=12 months

And T=1year 3 months

=>T=(12+3) months

=>T=15 months

Simple interest (SI)=P×R×T÷100

SI=14320×0.5×15÷100

So,SI=Rs.1074

Amount=P+SI

Amount=Rs.(14320+1074)

So,Amount=Rs.15394

Step-by-step explanation:

I hope my answer helps you..✌