Question

Richard invested $ 4,500.00 in a bank that pays simple interest of 4% a. M., for 10 months. How much will John earn in interest and Amount, respectively?​

Answer 1

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$\large \bold {ANSWER}$

$\large \boxed { \large \sf \green{ Interest: 1,800 \: }}$

$\large \boxed { \large \sf \green{ \: Amount: 6,300\: \: }}$

$\large \bold {SOLUTION}$

We need to know what 4% of 4,500 is. For this we will use simple rule of 3.

$\dfrac{4.500}{x} \large \searrow\!\!\!\!\!\!\nearrow\!\!\!\!\!\normalsize= \dfrac{100}{4}$

$\begin{gathered}100x = 4.500*4 \\ 100x = 18.000 \: \: \: \: \\ x = \frac{18.000}{100} = 180\end{gathered}$

Now that we know what 4% of 4,500 is. We need to multiply it by the number of months the money will be invested.

$180 \times 10 = 1800$

1800 is interest. Now we need to add to the amount applied, so we will have the amount.

$4.500 + 1.800 = 6.300$

Hence, The interst is 1800 and the amount is 6,300.