Find the Simple Interest on ₹6240 at 6⅔% p.a for a period from December 28, 2011 to May 22, 2012
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Answer:
28th December2011 to 22th May 2012=175 days.
here, P=6240, R=20/3%, T=175/375 year
SI=
\frac{prt}{100}
100
prt
\frac{6240 \times 20 \times 175}{3 \times 100 \times 365}
3×100×365
6240×20×175
=194.14
and the amount is (6240+194.14)=6434.14
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