Find the simple interest on Rs 1050 at 7 % p.a. for 4 years.
Share
Find the simple interest on Rs 1050 at 7 % p.a. for 4 years.
Sign Up to our social questions and Answers Engine to ask questions, answer people’s questions, and connect with other people.
Login to our social questions & Answers Engine to ask questions answer people’s questions & connect with other people.
Answer:
1344
Step-by-step explanation:
I= A-P=294
A= P(1+rt)
convert R percent to r decimal
r=R/100= 7%/100=0.07 per year
Solving our equation:
A= 1050[1+(0.07×4)]=1344
A= 1344