Find the simple interest on Rs 1050 at 7 % p.a. for 4 years.
Answers
Answered by
3
Answer:
1344
Step-by-step explanation:
I= A-P=294
A= P(1+rt)
convert R percent to r decimal
r=R/100= 7%/100=0.07 per year
Solving our equation:
A= 1050[1+(0.07×4)]=1344
A= 1344
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