Simple interest questions = Srinivas borrowed RS.7300 from Mr. Rao on 17th February,1996 and returned the amount on 24th September, 1998. If he paid interest at 21/2% per annum, determine the amount he returned to Mr. Rao
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Given
Principal Amount= P = 7300
Rate of Interest Per annum= R= 2 1/2 % = 2.5%
Time = T = 17th February 1996 to 24th September 1998
17-2-96 to 17 -2-98 = 2 years
18-2-98 to 24-9-98 = 10 + 31 +30 + 31 +30 +31 +31+24 = 218days...
217/365 days = .05972 years
so total time = 2 + .05972 = 2.05972years
We know that
simple interest= PTR/100
=7300×2.05972× 2.5/100
=37589.89/100
=375.9(Approx.)
The amount returned to Mr.Rao.
= Principal Amount + simple interest
= 7300 + 375.9
= 7675.9
Principal Amount= P = 7300
Rate of Interest Per annum= R= 2 1/2 % = 2.5%
Time = T = 17th February 1996 to 24th September 1998
17-2-96 to 17 -2-98 = 2 years
18-2-98 to 24-9-98 = 10 + 31 +30 + 31 +30 +31 +31+24 = 218days...
217/365 days = .05972 years
so total time = 2 + .05972 = 2.05972years
We know that
simple interest= PTR/100
=7300×2.05972× 2.5/100
=37589.89/100
=375.9(Approx.)
The amount returned to Mr.Rao.
= Principal Amount + simple interest
= 7300 + 375.9
= 7675.9
same77:
It is wrong the answer is 9292.90
impossible
with 2.5% how can u expect an additional 2000(approx)
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