Question

A sum of £ 1640 is invested in a bank. The rate
of interest is 4 . 5 % per annum.
Calculate the simple interest gained in 9
months.

Answer 1

Answer:

£ 55.35

Step-by-step explanation:

interest for 12 months =4.5%, interest per month = (4.5÷12) = .375

hence interest of sum £1640 for 9 month is .375×9×1640/100 = £55.35.