Question

MINDS ON! Sveti was promised 1% interest every six months. She deposited $700 initially and left the money in the bank for 18 months. How much interest did she earn?​

Answer 1

Answer:

If P be any sum and r% be it's rate of Interest per annum for t years, then interest in t years be.

Interest ( I ) = ( Ptr ) / 100.

Given, Sum = Rs 6400.

Time = 6 months = 1/2 year.

Rate = 10% p.a.

So, interest in 6 months.

= (Sum * Time * Rate) / 100.

= Rs { 6400 * ( 1 / 2 ) *10 } / 100.

Step-by-step explanation:

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