Question

Find the simple Interest on Rs. 6500 at 8% from 27 December 2020 to 10 March 2021.​

Answer 1

Given:

Rs. 6500 at 8% from 27 December 2020 to 10 March 2021

To find:

The simple Interest

Solution:

The sum of money, P = Rs. 6500

The rate of interest, R = 8% p.a.

The no. of days from 27th Dec 2020 to 10th March 2021 is,

= 4 + 31 + 28 + 10

= 73 days

∴ The no. of years, n = $\frac{73}{365}\:years$

We know,

$\boxed{\bold{Simple \:Interest = \frac{P\times R \times T}{100} }}$

Now, on substituting the given values in the formula above, we get

$Simple \:Interest = \frac{6500\times 8 \times \frac{73}{365} }{100} = \frac{65\times 8 \times 73 }{365} = \frac{37960}{365} = Rs. 104$

Thus, the simple interest is Rs. 104.

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