Find the sum of the simple interest on a sum of money at 8% per annum for 6 years in half the sum.

Answer 1

Let the sum of money be S.

The simple interest formula is: Simple Interest = (Principal x Rate x Time) / 100

Therefore, the simple interest on the sum of money for 6 years at 8% per annum would be: (S x 8 x 6) / 100 = 48S / 100 = 0.48S

Half the sum of money would be S / 2.

So, the simple interest on half the sum for 6 years at 8% per annum would be: (S / 2) x 8 x 6 / 100 = 24S / 100 = 0.24S

Therefore, the sum of the simple interest on half the sum of money is 0.24S.