Question

Simple interest on a certain sum for 3.3
years at 11.5% p.a. is * 1,050 more than
the simple interest on the same sum for
1.5 years at 14% p.a. Find the sum and
calculate what will be the amount in 5
years at 6.5% p.a. simple interest.​

Answer 1

Answer:

Simple Interest Calculation

Step-by-step explanation:

• Simple interest is the method of calculating interest charged on the amount invested in a fixed deposit.

• Understanding the Simple Interest Formula is essential to know about the basics of Finances.

• Simple Interest is calculated on the principal amount on a daily/monthly/annual basis.

• Principal Amount remains constant during the entire tenure on Simple Interest.

• The formula for calculating Simple Interest is P x r x t ÷ 100, where P=Principal Amount, Rate of Interest & T= Time.

• With a Simple Interest Calculator, you can calculate the interest without any error by saving time and efforts.