Question

Fahim deposited $1200 at a rate of 12 %( per annum) for 10 months. Find the amount he got back after 10 months.

Answer 1

Answer:

I think it is an answer..

Step-by-step explanation:

SI= P*N*R/100

=1200*10*12/100

=1440

Answer 2

The amount he got back after 10 months is $1320.

Fahim deposited $1200 at a rate of 12% (per annum) for 10 months.

We have to find the amount he got back after 10 months.

Here,

• initial amount deposited by Fahim, P = $1200
• Rate , r = 12%
• Time period, t = 10 months = 10/12 yr  [∵ 12 months = 1 yr ]

Simple interest = (P × r × t)/100

= ($1200 × 12 × 10/12)/100

= $120

the amount got back after 10 months = Principal + interest

= $1200 + $120 = $1320

Therefore the amount he got back after 10 months is $1320.

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