Question

If the rate of simple interest p.a be 6%, then find the simple interest of Rs. 3500 from 5th January to 31st May 2019

Answer 1

Answer:

Simple Interest = ₹84.58

Step-by-step explanation:

The rate of simple interest = 6% per annum = $\frac{6}{365}$ per cent per day

Principal, P = ₹3500

From 5th January to 31st May 2019:

Number of days in January = 31 - 4 = 27

Number of days in February = 28

Number of days in March = 31

Number of days in April = 30

Number of days in May = 31

Total number of days = 30x5 - 3 - 2 + 1 + 1 = 147

Simple Interest = $\frac{PRT}{100}$ = ₹3500x$\frac{6}{365}$x$\frac{147}{100}$ = ₹84.58