Question

suppose aaron earned 15.75 in interest for account A and 28.00 in interest for account B after 21 months if the simple interest rate is 3.0% for account A and 4.0% for account B wich account has the greater principle explain

Answer 1

Principle for account B is greater.

Explanation:

First of all, let us have a look at the formula for Simple Interest:

`SI =(PRT)/(100)`

Where
`P` is the principle amount

`R` is the Rate of interest per annum

`T` is the time in years.

Time = 21 months =
`(21)/(12)\ yrs`

`R_1 = 3\% \\R_2=4\%`

Let the Principles be
`P_1, P_2`.

Using the formula for Simple Interest, we get:

`SI_1=(P_1* 3* 21)/(100* 12)\\\Rightarrow 15.75=(P_1* 3* 21)/(100* 12)\\\Rightarrow P_1 = 300`

`SI_2=(P_2* 4* 21)/(100* 12)\\\Rightarrow 28=(P_2* 3* 21)/(100* 12)\\\Rightarrow P_2 = 533.33`

Therefore, principle for account B is greater.