It will grow to nine eighths of the original sum.
It's 11/12 percent of whatever principle you still owe.
With simple interest the interest is not re-invested and does not gain interest.Rs 180 over 4 years = Rs 180 ÷ 4 = Rs 90 per year.Interest rate is 6% per year, thus Rs 90 = 6% of the capital→ 6% x capital = Rs 90→ capital = Rs 90 ÷ 6%= Rs 90 ÷ 6/100= Rs 90 x 100/6= Rs 1500
The same as 2% per year. Per annum means per year.
6.5%Formula for finding Simple InterestSI [Interest] = (P×R×T)/100P [sum] = (SI×100)/(R×T)R [Rate/year] = (SI×100)/(P×T)T [Time] = (SI×100)/(P×R)whereS.I. = Simple Interest,P = Principal or Sum of amount,R = % Rate per annum,T = Time Span
Your capital in a poor savings account.
670.50
If it is simple interest, then it is 2700. ■
$494.34 Interest= principal amount * time* simple interest %
Rs 80.
5 years
120
Rs 84 in all.
30 years
3
Assuming simple interest, you multiply the capital times the interest rate times the number of years.
It depends on whether the 4% interest is per annum or for 8 years altogether. Also, you have to see if it is a simple interest or compounded interest.
simple interst is when you earn interest from your principal but compound interest is when you earn interest from your principal as well as from your previous interest