Question

Find the simple interest on Rs. 3500 at 4½% per annum from 15 March to 8 August 2015

Answer 1

Answer:

Step-by-step explanation:

Ans :-₹63

Answer 2

Given:

Principal amount=Rs.3,500

Rate of interest=

$4 \times \frac{1}{2} % \: per \: annum$

Number of days= 15 March to 8 August 2015

To find:

Simple Interest

Solution:

We can find the solution by following the given steps -

We know that the simple interest can be calculated as the product of principal, rate, and time divided by 100.

Simple Interest= (Principal× Rate× Time)/100

Time is given in several days from 15 March to 8 August

So, the number of days= 16+30+31+30+31+8

=146 days

Time duration= Number of days/ Total days in a year

=146/365 (Since 2015 is not a leap year)

Rate of interest=4.5%

Simple interest=(3,500×4.5×146)/(100×365)

=Rs. 63

Therefore, the simple interest on Rs.3,500 at the given rate is Rs. 63.