Question

A deposit of $5,000 at 8.5% for 120 days = _____.

Answer 1

S.I. = (5000*8.5* 120) / (100*365)
= 5100000/36500
= 139.73

Hope it helped
-Ad.

Answer 2

simple interest = ptr/100 

P = 5000

T = 120 days = 3 months = 3/12 = 1/3

R = 8.5

PTR/100 = 5000 * 1/3 *8.5 /100

i = 5000*1/3*8.5
    -------------------   = 5000 * 1/3 *8.5 * 1/100 
         100 

= 141.5



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