Question

Find the amount of 1,425 for 3 years 3 months at 4% simple interest per annum.​

Answer 1

Answer:

As 3 months are basically 3/12=1/4 year,

So, T=3 and 1/4 year =13/4 year

SI =PRT /10P=(1425*4*13/4)/100=(1425*4*13)/400

=74100/400=185.25

So,SI is 185.25

Therefore, Amount =1425+185.25=1610.25