Question

Find the amount received when : 7000 is invested at 9% p.a. for a period from February
4. 2014 to April 18, 2014.
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Answer 1

Answer :

P = Rs . 7000

Rate of interest = 9% . p.a

The investment is made from February 4 2014 to April 18 2014 which is = 43 days.

Therefore, interest will be

$\frac{7000 \times 9}{100} \times \frac{43}{365} = 74$

Therefore, the interest amount is Rs.74.

Now, the total Principal + interest =

$7000 + 74 = 7074$

Therefore, the total amount received will be 7074.

☆Additional Information ☆

Principal = Principal is the amount which is invested .

Rate - Rate is calculated on the basis on percentage.