Question

If A borrow an amont of rs 1000 on january 1st at 10% rate and return it with interest on august 7th both days inclusive for interest what is the total amount that a pay?

Answer 1

Total number of days from Jan 1 to Aug 7 = 31+28+31+30+31+30+31+7 = 219 days

Interest for one year (365 days) = $1000 \times \frac{10}{100} = 100$

Interest for 219 days = $100 \times \frac{219}{365} = 60 rupees$

Amount to be payed back = 1060 rupees

Answer 2

Answer:

Total number of days from Jan 1 to Aug 7 = 31+28+31+30+31+30+31+7 = 219 days

Interest for one year (365 days) = 1000 \times \frac{10}{100} = 1001000×

100

10

=100

Interest for 219 days = 100 \times \frac{219}{365} = 60 rupees100×

365

219

=60rupees

Amount to be payed back = 1000+60

= 1060