Question

Jeevan deposited 2,500 in his bank for buying Magnum certificates issued by the State Bank of India. Unfortunately, his application for the certificate was rejected. However, his money was refunded on March 28, 1988. He was paid interest on his money at the rate of 8% per annum for the period starting from Jan 15, 1988. How much money did he get back in all?
Step by step explanation​

Answer 1

Answer:

2540

Step-by-step explanation:

here, SI=x ; P=2500; R=8% ;T=73/365 (73 days time period)

so SI=P×R×T/100

x=2500×8×73/(100×365)

x=40

so total amount= SI+2500=2540