Whats the answer to the probblem below:
Calciulate the simple intrest earned on a sum of $2300 at $4.5% p.a for 3 years..
2007-05-27 20:52:29 · 5 answers · asked by Anonymous in Science & Mathematics ➔ Mathematics
SI = (2300 x (104.5)/100) x 3
No ... sorry
actually the interest is 2300 x 4.5/100 x 3
you add this to the principle $2300
This is to say, if you earn 4.5%pa on $2300 then over 1 year you earn $103.50 (this is just 2300x4.5/100) and over 3 years you earn 3 times as much, ie. $310.50
2007-05-27 20:57:08 · answer #1 · answered by Orinoco 7 · 0⤊ 0⤋
Simple interest is calculated as follows: I=Prt (interest=principal*rate*time). I=(2300*.045*3)=310.5. The interest will be $310.50. So the total amount after 3 years will be $2610.50.
2007-05-28 04:01:11 · answer #2 · answered by Jennifer D 1 · 0⤊ 0⤋
I = P*T*R/100
I = 2300*4.5*3/100
= 23*4.5*3
=$310.5
It would be better if it were in Rupees.
2007-05-28 04:32:36 · answer #3 · answered by voldemort 1 · 0⤊ 0⤋
interest=(2300*.045*3)=310.5
2007-05-28 04:14:58 · answer #4 · answered by PaeKm 3 · 0⤊ 0⤋
Can u jus tell the amount in Indian Rupees????????
2007-05-28 04:05:16 · answer #5 · answered by Diamond Shine 2 · 0⤊ 1⤋