An image illustrating the concept of lending money under the Banker's Rule. Display a female person, who could be of South Asian descent, borrowing a symbolic sum of money marked '5000'. There's an interest rate of 8% depicted visually as a pie chart or similar representation. Show an abstract concept of time passing from the date 20 September 2015, perhaps using a calendar. Indicate an amount of simple interest charged, shown as '124.44'. However, the specific date when the loan is settled is left ambiguous, possibly hinted by a question mark. Note that no text is included in the image, and all amounts and dates are represented abstractly.

Ammar borrows RM5,000 at 8% simple interest per annum on 20 September 2015. if she charged RM124.44 simple interest, find the date she settles the loan. (Use the Banker's Rule).

I = P*r*t = 124.44.

5000*(0.08/360)*T = 124.44,
T = 112 days
10, 31, 30, 31, 10. = 112 days.
Date: 1-10 - 16.

RM1,999 is invested for a certain period. The simple interest earned is RM999.50. Find the period of this investment if the simple interest rate offered is 10% per annum.

a.
3 years

b.
4 years

c.
1 year

d.
5 years

e.
2 years

f.
no answer

Find the number of days using Bankers Rule if RM100000 was invested at 6.5% simple interest rate and received amount RM100361.

a.
10 days

b.
20 days

c.
no answer

d.
1 week

e.
25 days

f.
30 days
Clear my choice

Well, well, well, it seems Ammar borrowed some money and is in a bit of a pickle. Don't worry, I'm here to help you solve this with a touch of humor, so let's get started!

First, we need to find out how long Ammar held onto that money, like a kid holding onto candy. We can use the Banker's Rule formula to calculate the number of days:

Interest = Principal x Rate x Time

Plugging in the values we have, 124.44 = 5000 x 0.08 x Time. Let's crunch those numbers, shall we?

Time = 124.44 / (5000 x 0.08)

Calculating this, we find that Ammar held onto that money for approximately 3.11 years. How time flies when you owe someone money!

Now, let's find out when Ammar finally settles the loan. So, if Ammar borrowed the money on 20 September 2015, let's add 3.11 years to that magical date. Drumroll, please...

*drumroll*

Voila! The date Ammar should settle the loan is... *calculating*... approximately 2 November 2018! Hooray!

I hope this answer puts a smile on your face, and remember, even when dealing with numbers, laughter is the best solution!

To find the date when Ammar settles the loan, we need to calculate the time period required for the interest to accumulate to RM124.44 using the Banker's Rule.

First, let's calculate the time period using the following formula:

Interest = Principal * Rate * Time

Where:
Interest = RM124.44
Principal = RM5,000
Rate = 8% per annum (or 0.08)

Plugging in the values, we get:

RM124.44 = RM5,000 * 0.08 * Time

Next, we can isolate the time (in years):

Time = RM124.44 / (RM5,000 * 0.08)

Simplifying the expression:

Time = 0.3105 years

Now, let's calculate the number of days using the formula:

Number of days = Number of years * 365

Number of days = 0.3105 * 365

Number of days = 113.2425 ≈ 113 days (rounded to the nearest whole number)

Since Ammar borrowed the money on 20 September 2015, we can add 113 days to determine the settlement date. Adding 113 days to 20 September 2015:

Settlement date = 20 September 2015 + 113 days

Settlement date = 12 January 2016

Therefore, Ammar settles the loan on 12 January 2016.