Question

aaron deposited RS 14600 at a rate of 14% (p.a) for 175 days. find the amount he got back after 17 days.

Answer 1

Deposite = Rs 14600

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Find interest for 1 day:

Interest = 14% pa

Interest for a year = 0.14 x 14600 = Rs 2044

Interest for 1 day = 2044 ÷ 365 = Rs 5.6

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Find interest for 17 days:

Interest for 1 day = Rs 5.6

Interest for 17 days = Rs 5.6 x 17 = Rs 95.2

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Answer: He got back Rs 95.2 after 17 days