Question

Rahul borrowed rs.4000 on 7th of june 2006 and returned it on 19th August 2006. Find the amount he paid if the interest is calculated at 5% per annum

Answer 1

P = ₹4000
T = 73days/365
R = 5%

S.I = PTR/100

= 4000 × 73×5/ 100× 365

= ₹40


A = P + I

A = 4000+40

Amount paid by Rahul is ₹4040/-

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Answer 2

step by step explanation:

SI = PNR/100

Term = June 30-7 days=23

July 31 days

August 19 days

Total days = 73 days

1 year is 365days . so 73/365

Now Principle = 4000

Term = 73/365

Rate of interest. = 5%

4000*73/365*5/100 = 40

The total amount he paid is ₹ 4040.