Question

compute the amount of interest on $835 at 7.5%p.a. from october 8,2019 to august 2020.

Answer 1

Answer:

Sunday, September 22, 2019. Wednesday, October 2, 2019. Saturday, October 5, 2019. Saturday, September 28, 2019 Tuesday, October 8, 2019. Friday

Answer 2

Answer:

Amount of interest = $51.13 .

Step-by-step explanation:

The simple interest formula is given by;

         S.I. = $\frac{P\times R\times T}{100}$     where, P = Principal amount

                                               R = Rate of Interest

                                               T = Time Period

Here, P = $835 ,  R = 7.5% and for the Time Period = We calculate the number of days from October 8,2019 to August,2020.

Since in the question it is not stated that till which date of august we have calculate interest so we assume it to be August 1,2020.

Number of days from October 8,2019 to August 1,2020 = 298 days

Hence, S.I. =  $\frac{835\times 7.5\times \frac{298}{365} }{100}$ = $51.13 .

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