Question

Whats the intrest earned if thePrinciple was $525.00 rate was 12% and the time was 14 months

Answer 1

The interest rate for given principal at simple interest rate = $73.5

Explanation:

Given as ,

The Principal = $525.00

The rate of interest = 12%

Time period = 14 months =
`(7)/(6)` years

Now from Simple interest method :

SI =
`(Principal * Rate * Time)/(100)`

Or, SI =
`(525 * 12 * (7)/(6))/(100)`

Or, SI = $73.5

So, The interest rate for given principal at simple interest rate = $73.5 Answer

Answer 2

The the interest earned if the Principle was $525.00 is $73. 5

Explanation:

Here, the Principal = $525.00

rate of interest = 12%

Time = 14 months = 1 year + 2 months

=
`1(2)/(12)  = (7)/(6)` years

Now, SIMPLE INTEREST =
`(P *  R  * T)/(100)`

or, SI =
`(525 * 12 * (7)/(2) )/(100 )   =  (525 * 12 *7)/(100 * 2 )`

⇒ SI = $73. 5

or, the the interest earned if the Principle was $525.00 is $73. 5.