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Find the simple interst on 3284 from may 11 1999 to September 11th 1999 at 10 percent per annum?
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Find the simple interst on 3284 from may 11 1999 to September 11th 199...
Calculating Simple Interest
To find the simple interest on the amount of 3284 from May 11, 1999, to September 11, 1999, at an interest rate of 10% per annum, follow the steps below.
Step 1: Determine the Time Period
- The time period between May 11, 1999, and September 11, 1999, is 4 months.
- To convert months into years: 4 months = 4/12 years = 1/3 years ≈ 0.333 years.
Step 2: Identify the Principal Amount and Rate of Interest
- Principal (P) = 3284
- Rate of Interest (R) = 10% per annum
Step 3: Use the Simple Interest Formula
The formula for simple interest (SI) is:
- SI = (P * R * T) / 100
Where:
- SI = Simple Interest
- P = Principal
- R = Rate of Interest
- T = Time in years
Step 4: Insert Values into the Formula
- SI = (3284 * 10 * 0.333) / 100
Step 5: Calculate the Simple Interest
- SI = (3284 * 10 * 0.333) / 100 = 109.47
Final Result
The simple interest for the amount of 3284 from May 11, 1999, to September 11, 1999, at a rate of 10% per annum is approximately 109.47.
This calculation demonstrates how to effectively compute simple interest over a specified period, ensuring that you understand each step of the process!
To find the simple interest on the amount of 3284 from May 11, 1999, to September 11, 1999, at an interest rate of 10% per annum, follow the steps below.
Step 1: Determine the Time Period
- The time period between May 11, 1999, and September 11, 1999, is 4 months.
- To convert months into years: 4 months = 4/12 years = 1/3 years ≈ 0.333 years.
Step 2: Identify the Principal Amount and Rate of Interest
- Principal (P) = 3284
- Rate of Interest (R) = 10% per annum
Step 3: Use the Simple Interest Formula
The formula for simple interest (SI) is:
- SI = (P * R * T) / 100
Where:
- SI = Simple Interest
- P = Principal
- R = Rate of Interest
- T = Time in years
Step 4: Insert Values into the Formula
- SI = (3284 * 10 * 0.333) / 100
Step 5: Calculate the Simple Interest
- SI = (3284 * 10 * 0.333) / 100 = 109.47
Final Result
The simple interest for the amount of 3284 from May 11, 1999, to September 11, 1999, at a rate of 10% per annum is approximately 109.47.
This calculation demonstrates how to effectively compute simple interest over a specified period, ensuring that you understand each step of the process!
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Find the simple interst on 3284 from may 11 1999 to September 11th 1999 at 10 percent per annum?
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Find the simple interst on 3284 from may 11 1999 to September 11th 1999 at 10 percent per annum? for Class 7 2024 is part of Class 7 preparation. The Question and answers have been prepared according to the Class 7 exam syllabus. Information about Find the simple interst on 3284 from may 11 1999 to September 11th 1999 at 10 percent per annum? covers all topics & solutions for Class 7 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Find the simple interst on 3284 from may 11 1999 to September 11th 1999 at 10 percent per annum?.
Find the simple interst on 3284 from may 11 1999 to September 11th 1999 at 10 percent per annum? for Class 7 2024 is part of Class 7 preparation. The Question and answers have been prepared according to the Class 7 exam syllabus. Information about Find the simple interst on 3284 from may 11 1999 to September 11th 1999 at 10 percent per annum? covers all topics & solutions for Class 7 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Find the simple interst on 3284 from may 11 1999 to September 11th 1999 at 10 percent per annum?.
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