Find the simple interest on rs 400 for 6 years and 4 months at the rate of 2 paisa for rd 2 per month
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Solution :-
The question is clear. So, I have assumed that the interest rate is 2 paisa for 2 rupees per month.
Principal = Rs. 400
Time = 6 years 4 months
= 6 4/12 years
= 6 1/3 years
= 19/3 years
Rate of interest = 2 paisa for 2 rupees per month
⇒ 0.02 Rs. for 2 rupees per month
⇒ 1 Rs. for 100 rupees per month
⇒ 12 Rs. for 100 rupees per year
Simple Interest = (P*R*T)/100
⇒ (400*12*19/3)/100
⇒ 91200/300
= Rs.304
Answer
The question is clear. So, I have assumed that the interest rate is 2 paisa for 2 rupees per month.
Principal = Rs. 400
Time = 6 years 4 months
= 6 4/12 years
= 6 1/3 years
= 19/3 years
Rate of interest = 2 paisa for 2 rupees per month
⇒ 0.02 Rs. for 2 rupees per month
⇒ 1 Rs. for 100 rupees per month
⇒ 12 Rs. for 100 rupees per year
Simple Interest = (P*R*T)/100
⇒ (400*12*19/3)/100
⇒ 91200/300
= Rs.304
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