A sum of money invested at 6 1/4% per annum for the period from 4th feb, 2005 to 18th April 2005 and gives Rs. 37.50 as simple interest. find the sum of money invested
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Step-by-step explanation:
Time = (24+31+18)days = 73 days = 73/365 years = 1/5 years.
P = Rs.3000 and R = 6 ¼ %p.a = 25/4%p.a
S.I. = Rs.(3,000*(25/4)*(1/5)*(1/100)) = Rs.37.50.
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