Question

find the interest on 17300 from 28 january 2008 to 10 april 2008 at the rate of 5 percent p.a also find amount​

Answer 1

Given data :-

{ I = interest; P = Principal; T = Time duration; R = Interest rate ( in percentage )}

—› I = ?

—› P = 17300

—› R = 5%

—› T = ?

Solution:-

Now, we need to find time in day's

We know rhat feb 2008 is leap year

Hence 29 day in feb 2008.

—› Day, from 28 january 2008 to 10 april 2008 = {3 + 29 + 31 + 10}days

—› Day, from 28 january 2008 to 10 april 2008 = 73 days

Hence, T = 73 days,

in year = 93/366 { due to leap year }

We use formula, of interest, { to find rate of interest }

—› I = { P × R × T }/100×366

—› I = { 17300 × 5 × 72 }/100×366

—› I = { 86500 × 72 }/100×366

—› I = 6228000/36600

—› I = 62280/366

—› I = {unit} 170.16 ( approx )

Now,

—› Amount = P + I

—› Amount = 17300 + 170.16

—› Amount = {unit} 17470.16

Hence, amount is {unit} 17470.16 & interest {unit} 170.16