Question

Let us determine the interest on rs2000 at the rate of simple interest of 6% per annum from 1st january to 26th march,2005

Answer 1

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Answer 2

Given :  Rs 2000 at the rate of simple interest of 6% per annum from 1st January to 26th May, 2005​

To Find : Interest

Solution :

1st January to 26th May

January - 31

February  - 28   (2005 is not leap year)

Marc - 31

April - 30

May - 26

= 31 + 28 + 31 + 30 + 26

= 146

Number  of Days in Year = 365

146 Days  = 146/365   = 2/5  = 0.4 Years

SI = P * R * T /100

P = 2000

R = 6 %

T = 0.4

SI  = 2000 * 6 * 0.4 /100

= 48  

Rs 48

Interest on Rs 2000 at the rate of simple interest of 6% per annum from 1st January to 26th May, 2005​  = Rs 48

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