Question

how much interest will have to paid on a loan of 1500 at 21% per annum for a period of 7 month​

Answer 1

Answer:

$2205.00

Step-by-step explanation:

I = PRT / 100

I = (1500)(21)(7) / 100

I = $2205.00

Where I= interest

P= principle

R= rate

T= time

Answer 2

Given,

P=rs1500 , R=21%, T=7Months, I=?

Now,

I=PRT/100

I= 1500×21×7/100

=rs2205

Therefore,Interest per annum=(2205÷12)=rs183.75

Hope this helps