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How much interest will $10,000 earn in 9 months at an annual [#permalink] ### Show Tags 24 Nov 2011, 23:44 00:00 Difficulty: (N/A) Question Stats: 0% (00:00) correct 0% (00:00) wrong based on 0 sessions ### HideShow timer Statistics How much interest will$10,000 earn in 9 months at an annual rate of 6%?

9 months is 3/4 of an year , FINE , how is 6% = 3/50 ???
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Re: HOW DO U DO INTEREST PROBLEMS [#permalink]

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25 Nov 2011, 03:00
6% is 6/100
Divide by 2 and you get 3/50
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Re: HOW DO U DO INTEREST PROBLEMS [#permalink]

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21 Jan 2012, 07:05
How do you compute the answer to this q? thanks
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Re: HOW DO U DO INTEREST PROBLEMS [#permalink]

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21 Jan 2012, 09:03
karthiksms wrote:
How do you compute the answer to this q? thanks

Simple interest = principal * interest rate * time, where "principal" is the starting amount and "rate" is the interest rate at which the money grows per a given period of time (note: express the rate as a decimal in the formula). Time must be expressed in the same units used for time in the Rate.

How much interest will $10,000 earn in 9 months at an annual rate of 6%? 9 months = 3/4 of year; 6% = 6/100=3/50;$10,000(principal)*3/50(interest rate)*3/4(time)=$450. Check Percents chapter of Math Book for more on this topic: math-number-theory-percents-91708.html Hope it helps. _________________ Re: HOW DO U DO INTEREST PROBLEMS [#permalink] 21 Jan 2012, 09:03 Similar topics Replies Last post Similar Topics: If$2,000 were invested at 10% annual interest, how much profit would 2 17 Jan 2017, 09:16
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