Respuesta :
Interest is calculated monthly here
- Months=1+1/3=4/3months
- P=470
- R=10
Interest:-
- I=PRT/100
- I=470(4/3)(9)/100
- I=47(12)/10
- I=47(6)/5
- 56.5$
Step-by-step explanation:
Interest can be calculated by formula,
» I = Prt
where,
- p = principal
- r = annual interest rate
- t = time (yrs)
Given:
- Principal - 470
- Rate - 10%
- time - 40 days
To find:
- Interest?
Solution:
Time in yrs so :- 40/365 = 8/73
Rate :- 10/100
Calculating Interest
- I = Prt
» I = 470* 8/73* 10/100
» I = 47* 8/73
» I = 5.15
