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2 years ago

A) Rate (R)24/5Time = 1 monthInterest = Rs. 39.96

Mathematics

1 answer:

yKpoI14uk [10]2 years ago

5 0

Answer: P = $ 1,998.01

Step-by-step explanation:

First, converting R percent to r a decimal

r = R/100 = 24%/100 = 0.24 per year,

putting time into years for simplicity,

1 months ÷ 12 months/year = 0.083333 years,

then, solving our equation

P = 39.96 / ( 0.24 × 0.083333 ) = 1998.007992032

P = $ 1,998.01

The principal required to

accumulate interest of $ 39.96

on a rate of 24% per year for 0.083333 years (1 months) is $ 1,998.01.

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A) Rate (R)24/5Time = 1 monthInterest = Rs. 39.96​

A) Rate (R)24/5Time = 1 monthInterest = Rs. 39.96