<h2>Quick answer :</h2>
<h3>(A) = $4042.50 </h3><h3>(B) = $14520.50</h3>
<h2><em><u>Solution with steps</u></em> : </h2><h2><u>Solution (A)</u> : </h2>
Money invested by a man = $10,500
No.of years for which he invested his money = 7
Rate of interest = 5.5%
We know that :
Principal = 10500
Rate = 5.5%
Time = 7 years
Simple interest the man payed :
Therefore, the simple interest payed by the man = <u>$4042.50</u>
<h2><u>Solution (B)</u> :</h2>
Money invested by the man (principal) = $10,500
The simple interest he payed = $4042.50
We know that :
The amount the man collected after a period of 7 years :
Thus, amount = $14520.50
Therefore the amount he collected after a period of 7 years = <u>$14520.50</u>