Answer:
Step-by-step explanation:
prt/100 = interest
WHERE :
P = Principal Amount
I = Interest Amount
r = Rate of Interest per year in decimal; r = R/100
R = Rate of Interest per year as a percent; R = r * 100
t = Time Period involved in months or years
LHS = $2000
RHS =
29. 92 x 1.95 x 280 / 100
hence answer
= 16,336.32 /100
= 163.3632
so LHS NOT EQUAL TO RHS HENCE THE INTEREST GIVEN IS NOT CORRECT
SI = interest + principle
SI = 163.3632 + 29.92
= 193.28....... total value of investment
