Question

how much would ₹36,525 amount to if was invested at 7 2/3 p.a from 15 october 2007 to 9 march 2008

Answer 1

The amount after interest is Rs. 37649.69.

step-by-step explanation:

Given information:

Principal = Rs.36525

Rate of interest = 23/3% p.a.

Time = From 15 October 2007 to 9 march 2008.

Days from 15 October 2007 to 9 march 2008 is

Days = 17+ 30 +31 +31 +29 + 9 = 147

Formula for interest is

Interest=Pxrxt

where, P is principle, r is rate of interest in decimal and t is time.

Interest = 36525 × (30) × X 147

366

Interest 1124.69

Amount after interest is

Amount = Principal + Interest

Amount = 36525 + 1124.69

Amount = 37649.69

Therefore, the amount after interest is Rs. 37649.69.