Question

Find the simple interest and amount on 4000
at a rate of 4% p.a. for 3 years 4 months.
PA​

Answer 1

Answer:

Given,

I=4000

r=4

t=3years4months=40

I=prt/100

400000= p×4×40

p =400000/(4×40)

=Rs2500(ANS)

Answer 2

Answers: $ 480

Step by step; I=prt/100 is the formula to simply simplest interest but if the time is given in month then divide the month by 12 to get the year