Professional Documents
Culture Documents
Solution
I=PRT
=2600 x .12 x 3
=936.00
Solution
I=PRT
=3125 x .15 x 73
=34,218.75
Solution
=6.75
I=PRT
Solution
I= 5930 x .06 x 9
=3,202.20
365000 x .03 x 6
65,700.00
67500 x 0.1 x 6
40500
4210000 x .04 x 9
1,515,600
225 x .06 x 8
108
Amount-principle=Simple interest
330-250=80
SI=PRT/100
R=(SI*100)/(P*T)
R=(80*100)/(250*4)
R=8%
given,
principal = $400
SI = $78
Time = 3/2
rate = SI × 100/ P × T
=> 70×100/400×3/2
=> 7000/1200/2
=> 7000/600
=> 70/6
=> 11.67%
hence the required rate is 11.67% .
Using this formula we can now solve for the number of years
Let sum = x
x +(x*4*15)/100= 2400
x+6x/10=2400
16x= 24000
x= 1500
◆ Answer -
Time = 11.025 years
● Explanation -
# Given -
Sum invested = $ 12000
Simple interest = $ 13230
Rate of interest = 10 %
# Solution -
Simple interest is calculated by -
Simple interest = sum invested × rate of interest × time interval
13230 = 12000 × 10/100 × time
13230 = 1200 × time
Time = 13230 / 1200
Time = 11.025 years
Hence, 11 years and ¼ will be taken.
P = $600
r = 0.10 or 10%
t = ? years
A = 2P = 1200 the future value since the $600 will double itself
A = P(1 + r*t)
2P = P(1 + r*t)
1200 = 600(1 + 0.1*t)
600(1 + 0.1*t) = 1200 divide both sides by 600
1 + 0.1*t = 2
by solving we find
t = 10 years