Question

How much interest is earned on a principal of $400 invested at an interest rate of 3% for seven years?

Answer 1

Answer:

principal = 400

Rate = 3 percent

Time = 7 years

interest = principal ×Rate ×Time

100

= 400×3×7

100

= 84

Answer 2

Step-by-step explanation:

We all know that,

1 dollar = 68.5 rupees

given,

principal = $400 = 400×68.5 = ₹ 27400

time = 7 years

rate = 4%

SI = ?

SI = p×r×t/100

= 27400×7×3/100

= 575400/100

= 5754