what amount will rena get by investing RS 4500at 4½% per annum for the period of January 7 to October 7 in year 2015 ?
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Rena will get ₹4651.875 by investing ₹4500 at 4½% per annum for the period of January 7 to October 7 in year 2015
Step-by-step explanation:
GIVEN
Principal = 4500
Rate = 4.5 = 9 / 2
Time = January 7 to October 7 = 9 months
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TO FIND
what amount will rena get by investing RS 4500at 4½% per annum for the period of January 7 to October 7 in year 2015
___________________________
We know that,
1 year = 12 months
Time = 9 / 12
___________________________
We know that,
Interest = ( Principal × Rate × Time ) / 100
Interest = ( 4500 × ( 9 / 2 ) × ( 9 / 12 ) ) / 100
Interest = 45 × 9 / 2 × 9 / 12
Interest = 45 × 4.5 × 0.75
Interest = 151.875
Interest = ₹151.875
___________________________
Now
Let's find the amount
We know that,
Amount = Principal + Interest
Amount = 4500 + 151.875
Amount = 4651.875
Amount = ₹4651.875
Rena will get ₹4651.875 by investing ₹4500 at 4½% per annum for the period of January 7 to October 7 in year 2015
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