Question

iii) Rs 3400 for 6 months at 6 paise per rupee per month.
[Hint : Here, rate of interest = 6 paise/Rs per month = 6% per month).​

Answer 1

• If I = interest,
• Principal,P= Rs 1000
• rate R
• = 5 paise per rupee per month
• =5/100
• = Rs 1/20 per rupee per month
• Time ,T = 6 months

I= PRT =1000(1/20)×6= Rs 300