5 percent means you get (0.05 x 500) = $25 per year, assuming simple interest.
Over 2 years, you get $50 interest. Plus, of course, you should also get your $500 back.
They use the below formula: Interest per year = p * n * r / 100 P - amount you deposit N - number of years R - rate of interest If you substitute the numbers corresponding to the amount that you deposit, the number of years and rate of interest, you can get the actual interest amount
The simple interest on the amount of $550.00 at 7 percent for one year would be $38.50. To reach the answer, multiply 550 by .07 which equals 38.50.
It is 38.5 units.
56.72
Two and a half percent of 750 ie 2.5 x 7.5 which is 18.75
Fixed deposit interest is calculated using the simple interest concept Interest = (principal * no. of years * rate of interest) / 100 principal = the amount you deposited rate of interest = the amount in % Ex: Deposit amount - 10,000 Rate of interest = 10% no of days = 365 Interest = (10000 * 365 * 10) / (365*100) = 1000
The formula for simple (ordinary) interest on a bank deposit is Deposit Amount x Rate x Time (# of days) on Deposit.
Fixed deposit interest is calculated using the simple interest concept Interest = (principal * no. of years * rate of interest) / 100 principal = the amount you deposited rate of interest = the amount in % Ex: Deposit amount - 10,000 Rate of interest = 10% no of days = 365 Interest = (10000 * 365 * 10) / (365*100) = 1000
They use the below formula: Interest per year = p * n * r / 100 P - amount you deposit N - number of years R - rate of interest If you substitute the numbers corresponding to the amount that you deposit, the number of years and rate of interest, you can get the actual interest amount
$494.34 Interest= principal amount * time* simple interest %
The simple interest on the amount of $550.00 at 7 percent for one year would be $38.50. To reach the answer, multiply 550 by .07 which equals 38.50.
(5.1 x 4.25)/4 = 5.42
It is 240 currency units.
Two and a half percent of 750 ie 2.5 x 7.5 which is 18.75
It is 38.5 units.
56.72
It is 80 currency units.