If Stella deposits 46,000 in a special investment account on Bth March. If the account pays
9 and half % p.a. simple interest and she withdraws the money on 31st July, how much has she
earned during this time?
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Answer:
if deposit is Rs.46000,
rate is 9¹/2 %
Time is from Bth March till 31st July
then,
S.I = principal × rate × Month ÷ 100
( Here, time is 1 month)
S.I = 46000 × 19 × 1 ÷ 2 × 100
= Rs.4370 per month.
A.T.Q
She earned till 31st March will be--
Rs.4370 × 4 ( S.I of per month × time )
= Rs.17480. ( Answer)
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