Find the exact interest of P85,000 at 20.5% from August 11 to December 10, 2024 using the actual number of days

To calculate the exact interest for the given period using the simple interest formula, we need the following information:

1. **Principal (P):** ₱85,000
2. **Rate (R):** 20.5% per annum
3. **Time (T):** The actual number of days between August 11 and December 10, 2024.

The simple interest formula is:
\[
I = P \times \frac{R}{100} \times \frac{T}{365}
\]

### Step 1: Calculate the number of days from August 11 to December 10, 2024.

- August 11 to August 31: 20 days
- September: 30 days
- October: 31 days
- November: 30 days
- December 1 to December 10: 10 days

So, the total number of days is:
\[
20 + 30 + 31 + 30 + 10 = 121 \text{ days}
\]

### Step 2: Calculate the interest.

Using the simple interest formula:
\[
I = 85,000 \times \frac{20.5}{100} \times \frac{121}{365}
\]

Now, let's calculate this.The exact interest on ₱85,000 at 20.5% from August 11 to December 10, 2024 (121 days) is approximately **₱5,776.51**.

Would you like further details or clarifications?

Here are 5 related questions to deepen your understanding:

1. How does the interest change if the rate is compounded monthly instead of using simple interest?
2. How would the interest differ if calculated for a leap year (366 days)?
3. What happens if the time period extends beyond a year in simple interest calculation?
4. Can you calculate the interest if the principal is invested at different rates throughout the year?
5. How does inflation impact the real value of the interest earned?

**Tip:** Always double-check the time period when calculating interest, especially if you're working across different months or years!

Find the exact interest of P85,000 at 20.5% from August 11 to December 10, 2024 using the actual number of days.

Learn how to calculate the simple interest on ₱85,000 at 20.5% per annum from August 11 to December 10, 2024. This problem uses the simple interest formula and covers the steps for determining the actual number of days (121) for interest calculation. Suitable for students in Grades 9-12.

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