Question

calculate the interest on a deposit of 7,000 at the rate of interest of 4.5% p.a. from 20 april 2017 to 24 november 2017.

Answer 1

Answer:

187.30

Step-by-step explanation:

Given

Deposit 7000 and interest rate 4.5 p.a

Interest per anum = 7000× 4.5/100 = 315.

1 year = 365 days

365 day interest = 315

No. of days for 20 April 2017 to 24 Nov 2017 = 217

217 day's interest = 315/365 × 217 = 187.30

Answer 2

Step-by-step explanation:

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