Question

principle =$300,simple lnterest=$6.75 and rate =4 1/2% p. a.

Answer 1

Answer:

Step-by-step explanation:

Answer 2

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Here is your answer.

Principal = $300
S.I = $6.75

$rate \: of \: interest = 4 \frac{1}{2} \% \\ = \frac{9}{2}\% \\ \\ = 4.5\%$

As we know the formula,

$time = \frac{100 \times si}{p \times r} \\ \\ = \frac{100 \times 6.75}{300 \times 4.5} \\ \\ = \frac{6.75}{13.5} \\ \\ = 0.5$

Therefore, Time = 0.5 years.

which = 6 months.

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