Question

3. Find the simple interest on 10,000 from 01 July to 12 September, 2007 at 5% per year. Calculate the interest. ​

Answer 1

Step-by-step explanation:

principle=10000

rate of interest is 5% per annum

Time taken from 1st July to 12th September

so, total days= 31+31+12=74 days

No of days per annum=365days

For simple interest,=P×T×R/100

therefore, (10000×(74/365)×5)/100

so, simple interest= 500rs