Question

6. Find the amount that Meena gets on depositing RS 1600 at 15% rate fo interest for 73 days.

Answer 1

SOLUTION :-

Principal (P) = Rs 1600

Rate of Interest (R) = 15% per annum

Time (T) = 73 days = $\frac{73}{365}$ years = 0.2 years

[ as there are 365 days in a normal year, and to convert days into year we have to divide the given days by 365 day (you can also divide by 366 is in the question leap years would be given) ]

To be found :-

The Simple Interest (S.I)

and Amount (A)

S.I = $\frac{P \times R \times T }{100}$

S.I = $\frac{1600 \times 15 \times 0.2}{100}$

S.I = Rs 48

Now,

Amount (A) = Principal (P) + Simple Interest (S.I)

Amount (A) = Rs 1600 + Rs 48

Amount (A) = Rs 1684

Hence

The Simple Interest (S.I) = Rs 48

and

Amount (A) = Rs 1684

Answer 2

Answer

Principal= RS 1600

Rate=15%

Time=73 days=73/365=1/5

SI= P*R*T/100

= 1600*15*1/100*5

= Rs 48

Amount=P+I

=1600+48= RS 1648

Hope it helps....!!