Question

Calculate the simple interest you would receive in one year on a savings account that earns 5% annual interest. Your beginning balance is $255.19.

Answer 1

time (t) = 1 year
rate of interest (r)= 5% p.a
principal (p) = $255.19

simple interest = ptr/100
s.i = 255.19 * 1 * 5/100
s.i = $12.7595

Answer 2

HEY MATE HERE IS YOUR ANSWER



Some of the abbreviations used in this question are :-

T= time

S. I = simple interest

P = Principal

R = rate


Solution :-

Given :-

T =1 year

P =225.19

R = 5% p.a

We know that,

S. I = p × r × t / 100

➡️ 225.19 × 5 × 1/ 100

➡️₹ 12.75 {approx}


________________


Hope it will help you

@thanksforquestion

@bebrainly