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.
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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
Answered by
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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
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
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