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On at % per annum for years. Solution: Principal (P) = 400 Rate (R) = 5% = 5 100 Time (T) = 4 Interest (I) = ? = × × = 400 × 5 100 × 4 = 8000 100 = . 80 2) On at % per annum for years. Solution: Principal (P) = 50 Rate (R) = 3 1 2 % = 7 2 % = 7 2 ×100 = 7 200 Time (T) = 7 Interest (I) = ? = × × = 50 × 7 200 × 7 = 2450 200 = . 12.25
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