18-06-2021
Mathematics

contestada

bank reduces the interest rate from 12% p.a. to 10% p.a to expand its business. By how much is the yearly interest on Rs. 8,400 decreased?

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ewomazinoade ewomazinoade

23-06-2021

Answer:

$168

Step-by-step explanation:

yearly interest = principal x time x interest rate

interest when interest rate is 12% = 8400 x 0.12 = 1008

interest when interest rate is 10% = 8400 x 0.1 = 840

decrease in interest rate = 1008 - 840 = 168

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