Question

10. Find the simple interest on Rs. 306.25 from March 3rd to July 27th( In the same year ) at 3.75 percent.

Answer 1

here we have

Principal = 306.25 Rs

Rate = 3.75 %

Time = 28+30+31+30+27 = 146 days

Time in years = $\frac{146}{365}$

                       = 0.4 years

∴ Simple Interest  $=\frac{P\times R\times T}{100}$

                              $=\frac{306.25\times 3.75\times 0.4 }{100}$

                              $=\frac{459.375}{100}$

                                     =  4.5937

                                Round off = 4.6

Answer 2

We need to get the time.

The time is as follows :

3rd April = 1 month

3rd May = 1 month

3rd June = 1 month

3rd july = 1 month

3rd july to 27th July = 24 days

in months we have = 24/31 = 0.77419

Total time = 4.77419 months

Simple interest = Principle × rate × time

= 306.25 × 4.77419/12 × 3.75/100

= rs 4.569