Question

Find the simple interest on rupees 7300 at 10% per annum in 2 year with formula

Answer 1

simple interest is 1460
answer is 1460

Answer 2

Step-by-step explanation:

Simple Interest is Rs 124

Step-by-step explanation:

Simple Interest formula is

where, P = Principal amount, R = Rate of interest and T = Time in years

We have

P = Rs 7300

Rate, R = 5% per annum

Time = 22(May) + 30 (June) + 31 (July) + 31(August) + 10 (September) = 124 days

Thus, time in year,

Substituting the values in formula for Simple Interest, we get