Question

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Find the interest on a deposit of ₹3650 from 3 january 2016 at the rate of 10% p.a. up to 17 march 2016..???

Answer 1

Given:

Principal (P)= ₹ 3650

Rate(R) = 10% per annum

Number of days from Jan 3, 2016 to Mar 17, 2016

Number of days in January 2016 from 3 January= 29 days
Number of days in February 2016= 29 days
Number of days in March up to 17= 17 days

Total number of days= 29+29+17= 75days

Time period(T) = 75/365 years

Interest = (P×R×T)/100

Interest= (3650×10×75)/(365×100)

Interest= ₹ 75

Hence, the Interest is = ₹75


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