Find the amount received when Rs.7000 is invested at 9% p.a. for a period from February 4, 2021 to April 18, 2021
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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
100
7000×9
×
365
43
=74
Therefore, the interest amount is Rs.74.
Now, the total Principal + interest =
7000 + 74 = 70747000+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.
Step-by-step explanation:
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