Question

Calculate the simple intrest on 500cedis for 2years at 5% per annum

Answer 1

Answer: 50 cedis

Explanation:

Simple Interest's Formula is
P*R*T/100

Here,

P refers to the principal amount
R refers to the rate of interest
T refers to the period of time

Here is the question we are given that
The principal amount is 500 cedis (3780.43 INR)
The time period is two years
The rate of interest is 5% per annum

3780.43 x 5 x 2/100 which is equal to Rupees 378.043
Converting Rupees 378.043 into cedis will give us 50 cedis

( 1 cedi = 7.56 INR)