Question 39

Find the approximate simple interest on Rs.2000 from March 9, 2010 to May 21, 2010 at 8.25% per annum.

Solution

Here you need to count the number of days

= (31-9) in March + 30 in April + 21 Days in May

= 22 + 30 + 21 = 73 Days = $$\frac{73}{365}$$ Years

N =$$\frac{1}{5}$$ Years

Now, put this is the formula of Simple Interest

I = $$\frac{PRN}{100}$$

I = $$\frac{(2000 x 8.25 x 1)}{(100 x 5)}$$

I =$$\frac{16500}{500}$$ = 33

So, Simple Interest will be Rs 33 … Ans.

Share on Whatsapp Share on Whatsapp

Create a FREE account and get: