ragini depisited rs 2400 in a bank 11 January 0f 2012 and was repaid on 6 june 2012 at the rate of simple interest 7(1/2)% find her interest and amount
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Answered by
26
Total number of days for which the amount remain deposited:
Jan = 21
Feb = 29 (leap year)
Mar = 31
Apr = 30
May = 31
June = 5
So, total days = 147 days
Interest = 2400 * 7.5% * 147 / 366 = 72.295
Amount = 2400 + 72.295 = 2472.295
Answered by
12
Ragini will get an interest of Rupees 72.493 and total amount of Rupees 2,472.493, upon maturity of deposit.
Amount deposited by Ragini in bank = 2,400.00
Date of deposit: 11-January-2012
Date of repayment by bank: 6-June-2012
Total number of days: 147
Rate of interest: 7.5%
Annual interest: 2,400.00 x 7.5/100 = 180.00
Interest per day: 180/365 = 0.493
Interest for 147 days: 147 days x Rupees 0.493 = 72.493
Total Amount: 2,400 + 72.493 = 2,472.493
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