what is the simple interest on 650 for 14 weeks at 6% pa
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Answer:
10.47 is the answer
Step-by-step explanation:
considering 365 days in 1 year and 7 days into 1 weak.
Calculating simple interest for 1 year.
Simple interest = Total amount ×rate/100
= 650×6/100 = 39
Calculating Simple internet for a day.
therefore we have to devide simple interest by 365
=39/365 =0.107
Converting 14 weeks into days
=14×7= 98 days
Calculating simple interest for 98 days
= simple interest for 1 days × number of days (want to calculate for)
= 0.17×98
Therefore,
Simple interest for 14 weeks is 10.486 (Currency)
Hope This will satisfy you.
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