Question

compute the amount of interest on earnings 235 @6.5% from 5january 2016 to 26 April 2016​

Answer 1

Answer:

Amount of interest = $4.69 .

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 = $235 ,  R = 6.5% and for the Time Period = We calculate the number of days from January 5,2016 to April 26,2016.

No. of days from January 5,2016 to April 26,2016 = 112 days {Considering 2016 a leap year}

Hence, S.I. = $\frac{235 \times 6.5 \times \frac{112}{365} }{100}$  = $4.69 .

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