d. If Sneha borrows an amount of 1000 on 1 January at 10% per annum and return it with interest on 7 August, both days inclusive for interest, what is the total amount that Sneha has to pay?
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Answer:
Total number of days from 1 jan to aug 7
= 31 + 28 + 31 + 30 + 31 + 30 + 31 + 7 = 219 days
Interest for 1 year = 1000×10/100=100
Interest for 219 days = 100×219/365=Rs60
∴ Amount to be paid = 1060 Rs.
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