Question

3. What amount will Reena get by investing * 4,500 at 9.% per annum for
the period from September 8 to November 20 of the year 2015.
​

Answer 1

Explanation:

From september 8 to november 20 , the days must be converted into years = no of days divided by the total no of days in the year.

No of years = 73/365

=0.2

The amount Reena get=

4500 + (4500×(9÷2)%x0.2)

4500+ (4500×4.5×1/100x.2)

4500+ 40.5

= Rs. 4540.5