Daaamian5977 Daaamian5977
  • 21-03-2022
  • Mathematics
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The SUM of £1640 is invested in a banck the rate of intrest is 4. 5% annum. Claculate the simple intrest gained in 9 months

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jdoe0001 jdoe0001
  • 21-03-2022

keeping in mind that a year has 12 months, thus 9 months are really 9/12 of a year, so

[tex]~~~~~~ \textit{Simple Interest Earned} \\\\ I = Prt\qquad \begin{cases} I=\textit{interest earned}\\ P=\textit{original amount deposited}\dotfill & \pounds 1640\\ r=rate\to 4.5\%\to \frac{4.5}{100}\dotfill &0.045\\ t=years\to \frac{9}{12}\dotfill &\frac{3}{4} \end{cases} \\\\\\ I = (1640)(0.045)(\frac{3}{4})\implies I=55.35[/tex]

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