Question

Whats the intrest earned if thePrinciple was $525.00 rate was 12% and the time was 14 months

Answer 1

Answer:

The the interest earned if the Principle was $525.00  is  $73. 5

Step-by-step explanation:

Here, the Principal = $525.00

rate of interest = 12%

Time = 14 months =  1 year + 2 months

= $1\frac{2}{12}  = \frac{7}{6}$ years

Now, SIMPLE INTEREST =  $\frac{P \times  R  \times T}{100}$

or, SI = $\frac{525 \times 12 \times \frac{7}{2} }{100 }   =  \frac{525 \times 12 \times7}{100 \times 2 }$

⇒ SI = $73. 5

or, the the interest earned if the Principle was $525.00  is  $73. 5.

Answer 2

Answer:

The interest rate for given principal at simple interest rate = $73.5

Step-by-step explanation:

Given as ,

The Principal = $525.00

The rate of interest = 12%

Time period = 14 months = $\frac{7}{6}$  years

Now from Simple interest method :

SI = $\frac{Principal \times Rate \times Time}{100}$

Or, SI =   $\frac{525 \times 12 \times \frac{7}{6}}{100}$

Or, SI = $73.5

So, The interest rate for given principal at simple interest rate = $73.5  Answer