Question

if if the rate of simple interest is reduced from 7 half percent per annum to
6 half percent per annum then find the decrease in half yearly interest on rupees 7280​

Answer 1

SI = PRT/100

SI at 7.5% per annum

SI =(7280×7.5×1)/100

SI= ₹546

this means the person have to pay ₹ 546 at the end of 1 year for the amount ₹ 7280

so, each month the payable interest =546/12=45.5

so interest Amount at 6 months =45.5×6=273

SI at 6.5% per annum

SI=(7280×6.5×1)/100

SI= ₹473.2

interest amount at 6 months =(473.2/12)×6= ₹236.6

difference =273-236.6= ₹ 36.40