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LuckyWell [14K]
2 years ago
5

Principal. Time. Rate 470. 40 days. 10% Whats the interest?

Mathematics
2 answers:
Leni [432]2 years ago
4 0

Step-by-step explanation:

Interest can be calculated by formula,

» I = Prt

where,

  • p = principal
  • r = annual interest rate
  • t = time (yrs)

<u>Given:</u>

  • Principal - 470
  • Rate - 10%
  • time - 40 days

<u>To find:</u>

  • Interest?

<u>Solution:</u>

Time in yrs so :- 40/365 = 8/73

Rate :- 10/100

Calculating Interest

  • I = Prt

» I = 470* 8/73* 10/100

» I = 47* 8/73

» I = 5.15

Mila [183]2 years ago
3 0

Interest is calculated monthly here

  • Months=1+1/3=4/3months
  • P=470
  • R=10

Interest:-

  • I=PRT/100
  • I=470(4/3)(9)/100
  • I=47(12)/10
  • I=47(6)/5
  • 56.5$
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