A certain sum of money gives $ 510 as compound interest 12¹/₂ % per annum for 2 years. Find the simple interest on the same sum

Question

2 years ago

11

of money at the same rate for the same period of time.

1 answer:

Mila [183] · Answer 1 · 2022-11-19T11:04:21+03:00

Mila [183]2 years ago

3 0

Answer:

$127.5

Step-by-step explanation:

Given data

P = $510

r= 12.5%

t= 2 years

The expression for simple interest is

SI= PRT/100

SI= 510*12.5*2/100

SI= 12750/100

SI= 127.5

Hence the Simple interest is $127.5