find interest on principal 5000 time 23rd December2011 to 29th July 2012 and rate of interest is 8%per annum
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P = 5, 000.
Duration = 9+31+29+31+30+31+30+29 days = 220 days
Simple interest = P r t = 5, 000 * 8/100 * 220/365 = 241.09
Duration = 9+31+29+31+30+31+30+29 days = 220 days
Simple interest = P r t = 5, 000 * 8/100 * 220/365 = 241.09
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