Question

what amount will rena get by investing RS 4500at 4½% per annum for the period of January 7 to October 7 in year 2015 ? ​

Answer 1

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

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We know that,

1 year = 12 months

Time = 9 / 12

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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

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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