Brycehas₹31,201inasavingsaccountthatearns12%annually.Theinterestisnotcompounded.Tothenearestpaisa,howmuchwillhehaveintotalin9months?

To calculate the total amount Bryce will have in his savings account after 9 months with an annual interest rate of 12%, we need to use the simple interest formula. Since the interest is not compounded, we can use the following formula for simple interest:

\[ \text{Simple Interest (SI)} = P \times r \times t \]

Where:
- \( P \) is the principal amount (initial amount of money).
- \( r \) is the annual interest rate (expressed as a decimal).
- \( t \) is the time period in years.

Given:
- \( P = ₹31,201 \)
- \( r = 12\% = 0.12 \)
- \( t = \frac{9}{12} \) years (since 9 months is \(\frac{9}{12}\) of a year or 0.75 years).

First, we calculate the simple interest:

\[ \text{SI} = ₹31,201 \times 0.12 \times 0.75 \]

\[ \text{SI} = ₹31,201 \times 0.09 \]

\[ \text{SI} = ₹2,808.09 \]

Next, we add the interest to the principal amount to find the total amount after 9 months:

\[ \text{Total Amount} = P + \text{SI} \]

\[ \text{Total Amount} = ₹31,201 + ₹2,808.09 \]

\[ \text{Total Amount} = ₹34,009.09 \]

Therefore, Bryce will have ₹34,009.09 in total after 9 months.

Do you want details or have any questions?

Here are 8 related questions that expand on this information:
1. How would the total amount change if the interest were compounded annually instead?
2. What would be the total interest earned if the interest rate were 10% instead of 12%?
3. How much interest would Bryce earn in one year with the same principal and interest rate?
4. What would be the total amount after 18 months with the same interest rate?
5. How would the total amount change if the principal amount were ₹40,000 instead?
6. How can the formula for simple interest be derived from basic principles?
7. What is the effect of the interest rate on the total amount in simple interest calculations?
8. How does simple interest differ from compound interest in terms of growth over time?

**Tip:** Always double-check your calculations to ensure accuracy, especially when dealing with financial computations.

Learn how to calculate the total amount in a savings account after 9 months with simple interest. Given ₹31,201 at an annual interest rate of 12%, find out the total amount including interest. Suitable for Grades 9-12.

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