41.75 was paid as the interest on 835 at 25/4 per annum. If the date of lending was 5 January 2009. find the date up to which the interest was paid
Answers
So by formula,
T = I*100\P*R
= 41.75*100/835*25/4
=0.8 years = 9.6 months
So answer is 11 October 2009
Up to 23th Oct , 2009 interest was paid if Rs 41.75 was paid as the interest on Rs 835 at 25/4% per annum. and date of lending was 5 January 2009
Given:
- P= Rs 835
- Interest = 41.75
- R = 25/4 % per annum
- Date of Lending 5 Jan 2009
To Find:
- Date up to which interest was paid
Solution:
SI = P * R * T /100
SI = Simple Interest
Step 1 :
Solve for T by substituting given values
41.75 = 835 x (25/4) x T /100
=> T =4/5 Years
Step 2 :
Find number of days by multiplying with 365 ( as 1 year = 365 days)
365 x 4/5 = 292 Days
Step 3 :
Add 292 Days in 5 Jan 2009
Jan = 27 , Feb = 28 , Mar = 31 , Apr 30, May 31, Jun 30 , Jul 31 , Aug 31 , Sep 30 , Oct 23
Up to 23th Oct , 2009 interest was paid.
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