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