Carlinsteven602 Carlinsteven602

24-05-2017
Mathematics

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834 3% 15 months simple interest

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snowdove snowdove

24-05-2017

If it is 3% for a year then
834 x 3/100 = 25.02 which is for 12 months.
The next three months is (25.02/12)x3 = 6.25 for 3 months
So for 15 months 25.02+6.25= 31.45

But if it is 3% monthly then
25.02 x 15= 375.30

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