We can use the simple interest formula to solve this problem. Our working equation is
[tex]I=P\times r\times t[/tex]where P is the principal amount, r is the interest rate, and t is the time. If we assume that the rate of this problem grows every year, we need to convert the time into years. There are 365 days in a year. Hence, to convert 100 days into years, we have
[tex]100\text{ days}\times\frac{1\text{year}}{365\text{ days}}=0.27\text{year}[/tex]Substitute the given on the given working equation and solve, we get
[tex]I=(50000)(0.012)(0.27)=162[/tex]Answer: 162
