Question

Principal. Time. Rate
470. 40 days. 10%

Whats the interest?

Answer 1

Interest is calculated monthly here

• Months=1+1/3=4/3months
• P=470
• R=10

Interest:-

• I=PRT/100
• I=470(4/3)(9)/100
• I=47(12)/10
• I=47(6)/5
• 56.5$

Answer 2

Explanation:

Interest can be calculated by formula,

» I = Prt

where,

• p = principal
• r = annual interest rate
• t = time (yrs)

Given:

• Principal - 470
• Rate - 10%
• time - 40 days

To find:

• Interest?

Solution:

Time in yrs so :- 40/365 = 8/73

Rate :- 10/100

Calculating Interest

• I = Prt

» I = 470* 8/73* 10/100

» I = 47* 8/73

» I = 5.15