Question

Find the simple interest on rs.14,600 from 12th Feb,2008 to 30th December 2008 at the rate of 5%p.a.Also find the amount​

Answer 1

$\textbf{\huge{ANSWER:}}$

$\sf{Given:}$

S.I. ( Simple interest ) = Rs. 14600

Time = 12th Feb - 30th Dec ( 2008 )

=》 323 days

In years = $\frac{323}{365}$ years

Rate of Interest = 5% per annum

The formula is:

S.I. = $\frac{PRT}{100}$

Where, S.I. = Simple Interest

P = Principle

R = Rate of Interest

T = Time

Applying the formula:

S.I. = $\frac{14600\times5\times323}{100\times365}$

=》 $\frac{64600}{100}$

=》 $\boxed{\tt{S.I. = Rs. 646}}$

Amount = Simple Interest + Principle

Amount = 646 + 14600

$\boxed{\tt{Amount = Rs. 15246}}$

We just need to start from gathering the information from the question, set it up together, and then at last, you just need to solve it further.