aman lent rs.3500 on27 September 2006 and received rs.3647on 4th may 2007 find rate of intrest
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Step-by-step explanation:Money lent=Rs.3500
Money received=Rs.3647
Simple Interest= 3647-3500=Rs.147
Simple Interest=P×R×T/100
R=S.I×100/P×T
where T=4days of september+3 days of may+31 of october+30 of november+31 of december+31 of january+28 of february+31 of march+30 of april=219 days 365 days=1 year
219days=219/365=0.6 years
R=147×100/3500×0.6
R=7%
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