Workout the simple interest on £530 at 4.5% per annum after six months

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10-09-2017
Mathematics

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Workout the simple interest on £530 at 4.5% per annum after six months

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dillonshah dillonshah · Answer 1 · 2017-09-10T19:18:32+02:00

dillonshah dillonshah

10-09-2017

530 at 4.5%.
interest rate = 4.5% per year = 0.045
year has 12 months and you want 6 months therefore
12/6 = 0.5 or 2
Multiply them all
530 X 0.045 X 0.5 = 11.93 total interest
530 + 11.93 = 541.93 final amount

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