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  • 21-11-2020
  • Mathematics
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Saiful deposits a sum of RM 5000 in a bank with interest rate of 4% per annum. What is the interest
earned by Saiful after 3 months ?​

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tricrystallite tricrystallite
  • 21-11-2020

Answer:

Saiful has earned RM 50 after 3 months.

Step-by-step explanation:

We are given the following:

x = 5000

y = 4% per 12 months (annually)

[Convert 4%/1 yr to three months]

Because 1 year = 12 months = 4% then:

3 months is 25% of 12 months, so find 25% of 4%.

25% of 4% is 1%

y = 1%

[Multiply x by y]

x * y = 5000*1% = 5050

[Subtract 5050 by the original, 5000]

5050 - 5000 = 50

Saiful has earned RM 50 after 3 months.

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