Question

find the a.i and the amount at simple interest for $960 for 3 years at 5 1/2 % p.a​

Answer 1

Answer:

$Given \: Principal (P) = \ 960,\\Time (T) = 3\: years ,\\Rate(R) = 5\frac{1}{2} \:per \: annum \\= \frac{11}{2} \:p\cdot a$

$\boxed { \pink { Simple \: Interest (S.I) = \frac{PTR}{100} }}$

$= \frac{960 \times 3 \times \frac{11}{2}}{100}\\= \frac{48\times 3 \times 11}{10}\\= \ 158.40$

$\boxed { \orange { Amount (A) = P + SI }}$

$= 960 + 158.40 \\= \ 1118.4$

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