Question

An account earns simple interest. Find the simple interest earned with $200 principal at 3.9% for 4.5 years.

Answer 1

• Simple Interest

Explaination :

Here we have been given with the simple Interest , rate of interest and principal. We need to calculate the simple Interest, so we would be using its formula to calculate it.

• Rate = 3.9%
• Principal = $200
• Time = 4.5 years

★ Simple Interest :-

• S.I. = P × R × T / 100

Here,

• P is Principal
• R is rate of interest
• T is time period

Substituting the values in the formula :

>> S.I. = 200 × 3.9 × 4.5 / 100

>> S.I. = 2 × 3.9 × 4.5 / 1

>> S.I. = 2 × 3.9 × 4.5

>> S.I. = 2 × 39 × 45 / 10 × 10

>> S.I. = 2 × 39 × 45 / 100

>> S.I. = 2 × 39 × 9 / 20

>> S.I. = 1 × 39 × 9 / 10

>> S.I. = 39 × 9 / 10

>> S.I. = 351 / 10

>> S.I. = 35.1

Answer 2

35.1

Interest = principal ($200) • rate (3.9/100 = 0.039) • time (4.5 yrs.)
I = $200 • 0.039 • 4.5
I = 7.8 • 4.5 = 35.1

Hope that helps!