Question

FIND THE INTEREST


IF PRINCIPAL IS 2 LAKH

RATE IS 1 RS IN 100

TIME IS 5 MONTH 10 DAYS

Answer 1

Given Principal = ₹200000

Time = 5 months 10 days

Rate = 1 % per month

To Find : Simple Interest and Amount

Solution :

10 days = ⅓ month

We can write time = 5+⅓ = 16/3 months

Then ,

Simple Interest =

$\frac{principal \times rate \times time}{100} \\ \\ \frac{200000\times 16 \times 1}{3 \times 100} \\ \\ = \frac{3200000}{300} =$

= ₹ 10,667 (Approximately)

The required simple interst is ₹10667.