Question

(a)Bill invests Rs 75000 for 10 years at a rate of 6 % per year simple interst. Calulate the total interest he will receive.

(b) Harry invests Rs 24 000 at a rate of 7 % per annum at simple interest.After how many months will Ravi gain Rs 1260 as interst?

Answer 1

Explanation:

A = 75000(1 + (0.06 × 10)) = 120000

A = $120,000.00

B = 24000(1 + (0.07 × 0.75)) = 25260

B = $25,260.00

B=9 months