Question

Find the simple interest on:
(ii) 648 for 8 months at 165% per annum.
Also find the amount in each case​

Answer 1

Answer:

Step-by-step explanation:

You want to calculate the interest on $648 at 165% interest per year after 8 month(s).

The formula we'll use for this is the simple interest formula, or:

Where:

P is the principal amount, Rs. 648.00.

r is the interest rate, 165% per year, or in decimal form, 165/100=1.65.

t is the time involved, 8....month(s) time periods.

Since your interest rate is "per year" and you gave your time interval in "month(s)" we need to convert your time interval into "year" as well.

Do this by dividing your time, 8- month(s), by 12, since there's 12 months in 1 year.

So, t is 0.666667....year time periods.

To find the simple interest, we multiply 648 × 1.65 × 0.666667 to get that:

The interest is: Rs. 712.80