Answer:
The answer is actually B, C, and E
Step-by-step explanation:
In this sum we will calculate using the simple interest.
Simple interest is calculated from the formula :
I = PRT
where I is the interest, P is the principal, R is interest rate per year and t is time in years.
I = 2000 × 3 % x 2
We have to turn 3% to its decimal fraction which is 0.03, so:
I = 2000 × 0.03 × 2
I = 60 × 2
I = 120
Therefore the interest earned in two years will amount to 120 $
To earn $345.45 simple interest in 7 years, you have to invest $940.
<u>Step-by-step explanation:</u>
Step 1:
Given details are Simple Interest Rate (R) = 5.25%, Simple Interest (SI) = $345.45, Time (T) = 7 years
Step 2:
Use the above details to find principal using the formula for Simple Interest (SI) = PRT/100
⇒ 345.45 = (P × 5.25 × 7)/100
⇒ 34545 = 36.75 P
⇒ P = $940
Answer:
Rs 38,640
Step-by-step explanation:
<u>Pay attention:</u>
The principle (p) : Rs 42,000
Rate of interest (r) : 8%
Time (n) : 1 years
Exact Amount (a) : P(1-R/100)^n
Value:
A = 42,000(1 - 8/100)^1
A = 42,000(1 - 2/25)
A = (42,000 * 23)/25
A = 1,680 * 23
A = Rs 38,640