Question

Find the rate charged, if the simple interest on 7300 from January 10, 2014 to April 28, 2014 is 109.

Answer 1

Answer:

Solution

Given, <br> Principal (P)=Rs. 7300, <br> Rate (R )=15% and <br> Time period (T)=April 28 to November 4=190 days

=(190)/(365)

years <br>

therefore

Simple interst

=(PTR)/(100)=(7300xx(190)/(365)xx15)/(100)=570

<br> Hence, simple interest =Rs. 570.

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