Math, asked by sharanyasharanyar, 13 days ago

A bank is offering 2.5%simple interest on a savings account. if deposit $5000,how much interest will you earn in one year?

Answers

Answered by rehadewan08

121

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Answered by rahul123437

Interest at the end of one year be

Explanation

We will use the formula of Simple Interest which is

$S.I. = P * R * T / 100$

Given Data

The principal amount is 5000 dollars = 3, 70,000 rupees (5000 dollars x 74 Rupees)

Rate = 2.5%

Time = 1 year

Now, on putting the values given in the formula

$S.I = 3,70,000 * 2.5 * 1 /100$

S.I.= 9,250 Rupees

Now we convert it into dollars by diving 9,250 rupees by 74 rupees

We get,

9250/74 = 125 dollar

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A bank is offering 2.5%simple interest on a savings account. if deposit $5000,how much interest will you earn in one year?​

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Interest at the end of one year be

A bank is offering 2.5%simple interest on a savings account. if deposit $5000,how much interest will you earn in one year?