Question

Find the simple interest on rupees 5000 at 8 p.c.p.a. for 219 days

Answer 1

Simple interest = Rs.240/-

Step-by-step explanation:

Given,

principal, p = 5000

Rate, r = 8 %

Time, t = 219 days = $\frac{219}{365}$ = 0.6 years

We know that,

Simple interest = $\frac{p\times r\times t}{100}$

Simple interest = $\frac{5000\times 8\times 0.6}{100}$

Simple interest = $\frac{24000}{100}$

Simple interest = Rs.240/-

Answer 2

Simple interest would be rs 240

Step-by-step explanation:

Simple interest is,

$I=\frac{P\times r\times t}{100}$

Where,

P = principal,

r = rate of interest per period,

t = number of periods,

Here, P = 5000,

r = 8%,

Number of days = 219,

∵ 1 year = 365 days,

So, number of years, t = $\frac{219}{365}$

Hence, simple interest would be,

$I=\frac{5000\times 8\times \frac{219}{365}}{100}$

$=\frac{50\times 8\times 219}{365}$

$=\frac{87600}{365}$

= 240 rupees.

#Learn more:

The simple interst on a sum of money for 3 years at 12%p.a is rs 6750. What will be the compound interst on the same sum at the rate and for the same period compounded annually?

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