Question

Find the simple intrest payable on a loan of N$ 6500 at 13.25% p.a at the end of fifty four months

Answer 1

Answer:

3875.63

Step-by-step explanation:

If P denotes the principal ($), R denotes the rate (percentage p.a.) and T denotes time (years), then:-

Given,

P = $ 6500,

R = 13.25% p.a.

T = 54 months = 4 years 6 months = 54/12 years = 9/2 years

S.I = (P × R × T)/100

= (6500 * 13.25 * 9) / 100*2

= 775125/200

= 3875.63