Question

what sum will amounts to 6000 in 3 years and 4 months at 7 1/2% per annum simple interest?

Answer 1

Solution:

P = 00,

R = 5% p.a.

T = 3 years 4 months = 40/12 years = 10/3 years

Therefore, S.I = (P × R × T)/100 = (900 × 5 × 10)/(100 × 3) = $ 150

Amount = P + S.I = $ 900 + $ 150 = $ 1050

(b) $ 1000 for 6 months at 4% per annum. Find the amount also.

Answer 2

Answer:

1200 is the answer for this question.

Step-by-step explanation:

Just apply some algebra and simple interest formula.