find the simple interest on rupees 3500 at 9 by 2 per annum from 15 march to 28 August 2015 p
Answers
Principle Amount P = Rs.3500
Rate R = 9 % p.a.
2
Time = From 15 March To 28 August
= March : (31-15) days – 16 days
= April : 30 days
= May : 31 days
= June : 30 days
= July : 31 days
= August : 28 days
=> 16 + 30 + 31 + 30 + 31 + 28 days
=> 166 days
•°• T = 166 days (here 365 = no. of days in a year)
365
= 13 ( cancel both numbers by 12 )
30 ( 1 year = 12 months )
= 2 years ( cancel 12 and 30 by 6 )
5 ( 1 half year = 6 months )
S.I. = P × R × T
100
= 3500 × 9 × 2
100 × 2 × 5
= 35×9 = 7 × 9 = 63
5
•°• Simple Interest = Rs.63
Amount = Principle + Simple Interest
= Rs. 3500 + 63
= Rs. 3563