1.find
a)simple interest earned
b) simple amount
for the following investment
ii)RM15000 for 5 1/4 years 6 at 9 percent per annum
repeat steps I showed you in your previous post
(5 and 1/4 years = 5.25 years , or use 21/4 years )
i want to asak what means by 21/4 years.how can get 21 ?
To find the simple interest earned and the simple amount for the given investment, we first need to understand the formulas for calculating simple interest.
The formula to calculate simple interest is:
Simple Interest = (Principal Amount * Rate of Interest * Time) / 100
The formula to calculate the simple amount is:
Simple Amount = Principal Amount + Simple Interest
Now, let's calculate the simple interest earned and the simple amount for the given investment of RM15000 for 5 1/4 years at a rate of 9% per annum.
Step 1: Convert the mixed fraction of 5 1/4 years into an improper fraction.
5 1/4 years = 21/4 years.
Step 2: Substitute the given values into the formula for simple interest:
Principal Amount = RM15000
Rate of Interest = 9% = 9/100
Time = 21/4 years
Simple Interest = (15000 * (9/100) * (21/4)) / 100
Step 3: Calculate the simple interest using the formula:
Simple Interest = (15000 * 9 * 21) / (100 * 4)
Step 4: Simplify the expression:
Simple Interest = (283500) / (400) = RM708.75
Therefore, the simple interest earned for the investment is RM708.75.
Step 5: Calculate the simple amount using the formula:
Simple Amount = Principal Amount + Simple Interest
Simple Amount = 15000 + 708.75
Step 6: Calculate the simple amount:
Simple Amount = RM15708.75
Therefore, the simple amount for the investment is RM15708.75.