Question

$290, 12.5%, 6 months

Answer 1

The information shown here only shows a principal sum, a rate of interest and a period or time. There is no question as to what is needed. But suppose the need is for simple interest, then we calculate using the given information and the formula: I = PRT where I is simple interest, P is the principal, R is the rate per year, and T is time P = 290, T is 6 months which is 0.5 years, R = 12.5 % which is written as 0.125 in decimal fraction. I = 290 × 0.125 x 0.5 → I = 18.125 Therefore after 6 months , the interest earned will be 18. 125 dollars