Question

on what date will Rs 1950 lent on 5th January 2011 amount to 2125.50 at 5 percent per annul simple Interest

Answer 1

P = Rs. 1950
r = 5 % p.a
n = Let the time be 'n' years
SI = Final Amount - P = 2125.50-1950 = Rs. 175.50

Therefore, SI = Prn/100
=> 175.50 = 1950*5*n/100
=> n = 175.50*100/(1950*5)
=> n = 9/5 years
=> n = (9/5*365) = 657 days after Jan 5, 2011

Therefore, the date = 23rd October, 2012