To calculate the total amount after 10 years at a simple interest rate of 20% per annum, you need to consider that the interest is added to the principal each year. The sum will be multiplied by 1.2 (100% + 20%) each year for 10 years. Therefore, the sum will be multiplied 10 times over the course of 10 years.
$494.34 Interest= principal amount * time* simple interest %
120
Assuming simple interest, you multiply the capital times the interest rate times the number of years.
S.I. = (P x R x T)/100 where R is rate, T is time, P is Original sum and S.I. is simple interest. 800x100 = P x R x T P = 80000/(5x7) = 80000/35 = 2285.71 So, the original sum is Rs 2285.71
11501 per annum.
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
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.
It will grow to nine eighths of the original sum.
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