Question

if present value=1200, time =5 years and rate =5.5 per annum , find true discount and amount in case of simple interest​

Answer 1

Answer:

1530

Step-by-step explanation:

I = P×R×T

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100

I = 1200×5.5×5

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100

I = 330

Amount = P + I

= 1200 + 330

= 1530