Answer:
£ 2380
Step-by-step explanation:
Principal = £16000
Time = 17 months = 1 year 5 months
Rate = 10.5%
[tex]Simple \: Interest = \frac{Pricipal × Rate × Time}{100} [/tex]
Substitute values into the given equation
[tex]s.i = \frac{16000 \times 10.5 \times \frac{17}{12} }{100} \\ [/tex]
Multiply
[tex]16000 \times 10.5 \times \frac{17}{2} = 238000 \\ \\ = \frac{238000}{100} [/tex]
Simplify
[tex] = 2380[/tex]
