Stella deposits 46000/ in a special investment account on 8th march. If the account pay nine and half%p.a.simple interest and she withdraws the money on 31st july,how much has she earned during this time
Answers
Answer:
Total Amount that she earned = 1638.5
Step-by-step explanation:
Deposited Amount = 46,000
Rate of simple interest = 9.5 % per Annum
The rate of Interest for 1 month = 9.5% / 12
The amount earned for 1 month = 9.5% / 12 (46,000)
= 364.16
Total time period from 8th March to 31st July = 142 days
(considering a month of 30 days)
Total time period from 8th March to 31st July = 142/30 months
Total time period from 8th March to 31st July = 4.7333 months
Total Amount that she earned = (346.16)(4.7333) 1638.5
Total Amount that she earned = 1638.5
Answer:
Rs 1748
Step-by-step explanation:
Amount deposited = Rs 46000
Interest rate = 9.5% p.a
Find the number of days from 8th March to 31 July
8th march to 31 march = 24 days
1 April to 30 April = 30 days
1 May to 31 May = 31 days
1 Jun to 30 Jun = 30 days
1 July to 31 July = 31 days
Total = 24 + 30 + 31 + 30 + 31 = 146 days
Find the interest for a year:
Interest = 9.5% of Rs 46000
Interest = 0.095 x 46000 = Rs 4370
Find the interest for 146 days
Interest = 146/365 x 4370 = Rs 1748
Answer: She earned Rs 1748 during this time