Question

Find simple interest on Rs 1050 for 4 years 6months at 7% per annum.
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Answer 1

Answer:

330.75

Step-by-step explanation:

1. Interest of 1 year =

$7 \div 100 \times 1050 = 73.5$2. Interest of 12 months (1 year) = 73.5

so, interest of 6 months =

$73.5 \div 2 = 36.75$

Now question asked intrest for 4 years 6 months,

3. interest of 4 year =

$73.5 \times 4 = 294$

And intrest of remaining 6 months = 36.75 (explained above in 2nd point)

Total interest is =

$294 + 36.75 = 330.75$