Rahul borrowed rs4000 on 7th of june 2006,and rerturned it on 19th august 2006. Find the amount he paid if the intrest is calculated at 5% per annum?
Answers
Answer:
4040 rs
Explanation:
1. calculate num of days from june 7 to august 19
number of days = 23(june) +31(july) +19(aug) = 73 days
2. P = 4000
R = 5%
N = 73/ 365 days
3. S.I = PNR / 100
= 4000 × 5× 73 ÷ 100
= 40
Amount = P + S.I = 4000 + 40 = 4040
Answer: Rs.4040
Explanation:
Principal (P) = Rs.4000
Rate (R) = 5% p.a.
Time (T) = 7th Jun 2006 to 19 Aug 2006
= (June 23 days) + (July 31 days) + (Aug 19 days)
= 23+31+19 = 73 days
= 73/365 =1/5 Years
Simple Interest = PRT/ 100
= [4000 × 5 × (1/5)] / 100
= Rs.40
Amount = Principal + Simple Interest (SI)
= 40+4000 = Rs.4040
Remark : The day on which money is deposited is not counted while the day on which money is withdrawn is counted.