Question

Dinesh borrowed ₹9000 on 28th June 2006 from a bank at the rate of 12% per annum simple interest. If he wants to clear the account on 9th September 2006,what amount will he have to pay?

Answer 1

total days = 3+31+31+8 = 73
SI = PRT/100
= (9000×12×(73)/365)/100
= (9000×(12)/5)/100
= 1800×12/100
= 18×12
= 216