Question

Find the interest on RS 1200 at 6% per annum for 146 days.

Answer 1

Answer:

The interest is Rs.28.8 per year.

Step-by-step explanation:

Given :  Rs. 1200 at 6 percent per annum for 146 days.

To find : The interest ?

Solution :

The interest formula is defined as

I=P\times R\times TI=P×R×T

Where, P is the principal P=Rs.1200

R is the interest rate R=6%=0.06

T is the time T=146 days

Converting days into year,

1 year = 365 days

1 day = \frac{1}{365}3651 year

146 days = \frac{146}{365}365146 year

Substitute the value in the formula,

I=1200\times 0.06\times \frac{146}{365}I=1200×0.06×365146

I=28.8I=28.8

Therefore, The interest is Rs.28.8 per year.