A sum of £ 1640 is invested in a bank. The rateof interest is 4 . 5 %

1.	A sum of £ 1640 is invested in a bank. The rateof interest is 4 . 5 % per annum.Calculate the simple interest gained in 9months.
Answer» Answer: £ 55.35 Step-by-step EXPLANATION: interest for 12 MONTHS =4.5%, interest per month = (4.5÷12) = .375 HENCE interest of sum £1640 for 9 month is .375×9×1640/100 = £55.35.

A sum of £ 1640 is invested in a bank. The rateof interest is 4 . 5 % per annum.Calculate the simple interest gained in 9months.

Answer»

Answer:

£ 55.35

Step-by-step EXPLANATION:

interest for 12 MONTHS =4.5%, interest per month = (4.5÷12) = .375

HENCE interest of sum £1640 for 9 month is .375×9×1640/100 = £55.35.

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A sum of £ 1640 is invested in a bank. The rateof interest is 4 . 5 % per annum.Calculate the simple interest gained in 9months.

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