Question -:
Find the Simple Interest at $300 at 15% for 14 months.
Explanation -:
Given :
Principal = $300
Time = 14 months = 1 years 2 months = 1 [tex]\dfrac{2}{12}[/tex] = 1[tex]\dfrac{1}{6}[/tex] years = [tex]\dfrac{7}{6}[/tex] years
Rate of interest = 15% p.a.
Need to find:
Solution :
We know,
[tex] \blue{ \small\boxed{ \rm \orange{ SI = \dfrac{P×R×T}{100}}}}[/tex]
substituting the values we get
[tex] \small\sf{ SI = \dfrac{3 \cancel{00}× \cancel{15} \: \: 5×7}{ \cancel{6} \: \: 2×1 \cancel{ 00}} = \dfrac{105}{2} = 52.5}[/tex]
SI = $52.5
