Question

Q6.Find Interest on ₹ 600 at 6 % p.a. for the period of May 21, 2021 to March 9, 2022 ?​

Answer 1

Step-by-step explanation:

hope it will help you

Answer 2

Answer:

Total interest = Rs 28.8

Step-by-step explanation:

Given that:

• Sum of money/Principal = ₹ 600
• Rate of Interest = 6% p.a.
• Time period = May 21, 2021 - March 9, 2022

Finding the time period:

• Number of days from 21 May to 1 July = 11 days
• Number of days in month June = 30 days
• Number of days in month July = 31 days
• Number of days in month August = 31 days
• Number of days in month September = 30 days
• Number of days in month October = 31 days
• Number of days in month November = 30 days
• Number of days in month December = 31 days
• Number of days in month January = 31 days
• Number of days in month February in 2022 = 28 days
• Number of days from 28 February to 9 March = 9 days
• Total number of days = (11 + 30 + 31 + 31 + 30 + 31 +30 + 31 + 31 + 28 + 9) days

Here one day will be deducted.

→ Total number of days = (293 - 1) days

→ Total number of days = 292 days

Converting 292 days into year:

By using unitary method:→

• 365 days = 1 year
• 1 day = 1/365 year
• 292 days = 292/365 year

Formula to find simple interest:

S.I. = (P × R × T)/100

Where,

• S.I. = Simple interest
• P = Principal/Sum of money
• R = Rate of interest
• T = Time period

Finding the simple interest:

→ S.I. = (600 × 6 × 292)/(100 × 365)

→ S.I. = (6 × 6 × 292)/(365)

→ S.I. = 10512/365

→ S.I. = 28.8

∴ Simple interest = Rs 28.8